SINGAPORE (May 26): On May 26, ARA Asset Management announced that AVIC Trust will be exiting as a shareholder of ARA Asset Management. At the same time, John Lim, CK Asset Holdings and Straits Trading, will raise their collective shareholding to 51.3%, and Warburg Pincus will hold 48.7% of ARA. The transaction completes on May 31.
Following the privatisation of ARA Asset Management in 2017, its shareholders were AVIC Trust with 20.48%, Warburg Pincus (30.72%), John Lim (19.85%), Straits Trading (20.95%) and CK Asset Holdings (8%).
ARA manages some $88 billion in funds, REITs including Suntec REIT which owns Suntec City and its office towers, and through strategic stakes in complementary real estate platforms in Japan, Australia, Europe and the US.