Croesus Retail Trust(CRT: S6NU) requested for a trading halt today (27 Jun 2017) pending the release of an announcement. This comes after a announcement back in April 2017, stating a possibility of a potential transaction of an acquisition of all the issued units in CRT. Leading up to today, they have also released update announcements with regards to this potential acquisition. Since the announcement, CRT share price has risen from S$0.94 (closing price on 25 Apr) to S$1.055 (closing price on 23 Jun).
According to this article published by Straits Times, "Private equity firm Blackstone Group is in the process of buying Singapore-listed Croesus Retail Trust, which operates retail properties in Japan, Dow Jones has reported citing sources".
I have a mixed feeling about this acquisition. On one hand, I would be losing a good dividend stock which gave me a good 7.2% dividend last year. However, on the other hand, an acquisition would normally see share prices gap up around 30%.
Let's wait for the official announcement from Croesus Retail Trust..
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