Accordia Golf Trust fully divests interests in Japan golf courses for $804.1 mil

Felicia Tan
Felicia Tan6/29/2020 11:36 AM GMT+08  • 2 min read
Accordia Golf Trust fully divests interests in Japan golf courses for $804.1 mil
The manager of Accordia Golf Trust (AGT) announced that it has entered into a conditional agreement to fully divest its interests in its 88 Japan golf courses to Accordia Golf for a total cash consideration of JPY 61.8 billion ($804.1 million).
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SINGAPORE (June 29): The manager of Accordia Golf Trust (AGT) announced that it has entered into a conditional agreement to fully divest its interests in its 88 Japan golf courses to Accordia Golf for a total cash consideration of JPY 61.8 billion ($804.1 million).

The purchase consideration translates to some 73.2 cents per unit of AGT, which represents a 29.5% premium above the Trust’s closing price of 56.5 cents per unit on June 23, the last full trading day immediately prior to the announcement.

The price also represents a premium of 12.9% and 5.1% to AGT’s adjusted net tangible assets (NTA) and net asset value (NAV) per unit respectively based on the unaudited consolidated financial results for the financial year ended March 31, 2020.

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