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Frasers Centrepoint Trust completes $338m divestment of Changi City Point
The net proceeds from the divestment is $329.7m.
The manager of Frasers Centrepoint Trust (FCT) announced the completion of the divestment of Changi City Point for $338m.
In a statement, FCT's manager said the balance of the divestment consideration worth $321.1m, was paid to its trustee.
The divestment fee is $1.7m payable in cash whilst other divestment expenses of $0.2m and the transfer of tenants' security deposits of $6.4m.
This means the net proceeds from the divestment are around $329.7m, which will be used for the repayment of FCT's debts.
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