As the conditions for the proposed acquisition have not been fulfilled by the long stop date agreed, FPIV1 and Tran Thai have mutually agreed to terminate the agreement.
Both companies have entered into a termination agreement with effect from Jan 20.
SEE: Frasers Commercial Trust spurns offer to invest in Frasers Tower
Tran Thai, on the same day, has refunded the full deposit of VND40.86 billion ($2.35 billion) paid by FPIV1.
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The termination of the agreement is not expected to have a material effect on the net tangible assets (NTA) or earnings per share (EPS) of FPL for the current FY.
Shares in FPL closed 1 cent lower or 0.8% down at $1.27 on Jan 20.
