Tang Organization takes over Suntec REIT manager in 100% stake deal
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Tang Organization has acquired a 100% stake in ESR Trust Management, becoming the new sponsor of Suntec Real Estate Investment Trust. The buyout, completed by Acrophyte Asset Management, was approved by the Monetary Authority of Singapore. The Tang family, holding about 36% of Suntec REIT's units, plans to conduct a strategic review of the REIT's portfolio. Additionally, ESR Trust Management announced the retirement of chairman David Matheson effective March 17, with no unresolved differences reported.
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