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New York-based private equity firm Warburg Pincus and a consortium of investors are weighing a buyout offer from ARA Asset Management, a Singapore-listed real estate fund with $30B worth of property under management.
With a market cap of $1B, ARA owns an assortment of properties throughout Asia, including retail centers, offices and logistics facilities. The buyout consortium is led by ARA founder John Lim and several investors whose combined holdings represent 47% of the company’s shares outstanding, the Wall Street Journal reports.
If successful, the buyout plan will be one of several billion-dollar deals in which Singapore-based companies have gone private due to majority shareholders’ selloff—such was the case with Singapore-based Neptune Orient Lines in its $2.4B deal earlier this year. [WSJ]
