MalaysiaÆs YTL Corp buys control of Singapore Reit

The Malaysian developer pays $189 million for 26% of Macquarie Prime Reit and 50% of its management company, in the largest Singapore Reit M&A deal to date.

YTL Corp, a Malaysian investment holding and management company, last night announced that it will acquire a 26% stake in Macquarie Prime Reit MP Reit and 50% of Prime Reit Management Holdings PRMH from Macquarie for S$285 million $189 million.

Singapore-listed MP Reit started out with a portfolio comprising two major properties on Singapore's Orchard Road û Wisma Atria and Ngee Ann City. It expanded in 2007 with the acquisition of seven properties in Tokyo and now also has...

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