ARA swoops in on Dasin Retail Trust's trustee manager with MOU

The Edge Singapore
The Edge Singapore 4/22/2021 10:14 PM GMT+08  • 1 min read
ARA swoops in on Dasin Retail Trust's trustee manager with MOU
ARA Asset Management to boost AUM with MOU to acquire 50% of Dasin Retail Trust's trustee-manager.
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On April 21, Dasin Retail Trust’s trustee-manager announced that Zhang Zhencheng, chairman and controlling shareholder of the trustee-manager, had entered into a non-binding memorandum of understanding with ARA Capital Group, a unit of ARA Asset Management to pursue a strategic partnership. Under the MOU, ARA Asset Management would acquire 5% of Dasin Retail Trust’s units and 50% of the trustee-manager. If confirmed, the agreement would give ARA Asset Management a further $2.5 billion in AUM.

ARA Asset Management says it has AUMs of $116 billion. This includes AUMs of its management companies, associates and investments.

Dasin Retail Trust is a business trust with malls in southern China. It was impacted by Covid-19 last year. Its FY2020 DPU fell by 42.2% to 3.94 cents because of a distribution waiver. Units in Dasin Retail Trust rose 3.45% on April 22 to end at 75 cents.

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