ESR Cayman is acquiring ARA Asset Management for US$5.2 billion to form one of the world's largest real estate management firms with total assets under management of some US$129 billion.

Under terms of an agreement announced late in the evening of Aug 4, the deal has an irrevocable undertaking given by OMERS and, two key ESR shareholders holding a combined 46% stake.

Founded in 2002 and listed on the SGX between 2007-2017, ARA claims it is the largest real asset manager in Asia-Pacific along with its subsidiary, LOGOS.

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