(Reuters) - OUE Commercial Real Estate Investment Trust and OUE Hospitality Trust are in discussions to merge in a cash and stock deal, the Wall Street Journal reported on Sunday, citing people with knowledge of the deal.
OUE Commercial will offer to buy OUE Hospitality to create a single entity that will remain listed on the Singapore stock exchange and hold assets totaling S$6.7 billion ($4.95 billion) the report added, citing sources.
OUE Commercial Real Estate Investment Trust and OUE Hospitality Trust did not immediately respond to a request for comment.
The deal comes among a wave of mergers in the real estate investment funds sector. In May, Singapore-listed ESR-REIT bought rival Viva Industrial Trust in a deal valued at S$936.7 million ($691.50 million), marking the first consolidation among Singapore’s crowded mid-cap real estate investment trusts.
Reporting by Sabahatjahan Contractor; Editing by Phil Berlowitz