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Mapletree Investments subsidiary sells 296.6 mil MLT units to Aranda Investments for $412 mil

Felicia Tan
Felicia Tan • 1 min read
Mapletree Investments subsidiary sells 296.6 mil MLT units to Aranda Investments for $412 mil
Units in MLT closed 2 cents higher or 1.37% up at $1.48 on April 1. Photo: MLT
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Meranti, a subsidiary of Mapletree Investments, has sold 296.6 million units in Mapletree Logistics Trust (MLT) to Aranda Investments for $412 million or $1.389 apiece.

The off-market transaction took place on March 28, when Meranti entered into a unit sale and purchase agreement (SPA) to sell part of its stake to Aranda Investments.

The SPA is unconditional.

Mapletree Investments is the holding company of Meranti while Aranda is a wholly-owned subsidiary of Seletar Investments. Seletar Investments is, in turn, a wholly-owned subsidiary of Temasek Capital.

After the sale, which was completed on the same day, Meranti has ceased to become a substantial unitholder of MLT, reducing its stake from 7.68% to 1.74% after the sale.

Accordingly, Aranda has become a substantial unitholder of MLT having crossed the 5% mark. After the sale, Aranda now has a 5.93% stake in MLT.

See also: Ho Bee Land’s executive director and CEO Nicholas Chua ups stake in company

Units in MLT closed 2 cents higher or 1.37% up at $1.48 on April 1.

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Mapletree Logistics Trust (MLT)
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