Blog Post  Key things to know about the Ascott Residence Trust and Ascendas Hospitality Trust merger

On 21 October 2019, through their handheld devices, shareholders from both sides gave their blessings to the marriage between Ascott Residence Trust (Ascott) and Ascendas Hospitality Trust (A-HTrust).

With combined assets of S$7.6 billion, the new entity – Ascott REIT Business Trust (Ascott REIT-BT) — will form the largest hospitality trust in Asia Pacific and the eighth largest in the world. Ascott REIT-BT will be structured as a stapled security: a real estate investment trust and a business trust joined together. The news of the merger came on 3 July 2019 shortly after CapitaLand completed the acquisition of Ascendas-Singbridge on 1 July 2019.

Source: Ascott REIT

In an open letter to A-HTrust earlier this year, Quarz Capital Management wrote that the merger will solve the critical issue of overlapping investment mandates between the two trusts. Should ...

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