Hong Kong's PAG sweetens takeover bid for Spring REIT

Spring Real Estate Investment Trust

29/10/2018 15:13

Oct 29 (Reuters) - Hong Kong-based private equity group PAG
has sweetened its offer to buy Spring Real Estate Investment
Trust (REIT)  1426.HK , a unit of PAG said on Monday.
    PAG Real Estate made a new offer of HK$5.30 for each unit of
Spring REIT, up from an earlier HK$4.85.
    The offer was final and would not be increased, PAG Real
Estate said. All other terms of the offer were unchanged from
the original, it added.
    The offer represents a premium of 76.7 percent to Spring
REIT's Sept. 24 closing price, PAG said.
    PAG launched a HK$5.24 billion ($671 million) unsolicited
takeover bid for Spring REIT on Sept. 26.  urn:newsml:reuters.com:*:nL4N1WC2AH

 (Reporting by Rishika Chatterjee in Bengaluru
Editing by Sai Sachin Ravikumar)
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