Temasek Holdings-backed Mapletree Commercial Trust completed the merger with Mapletree North Asia Commercial Trust in a $3.1bn deal.

Temasek Holdings-backed commercial REIT Mapletree Commercial Trust, completed the merger with Mapletree North Asia Commercial Trust, a commercial REIT, in a $3.1bn deal. "This merger marks a transformative milestone for both REITs, combining our proven track records in creating an enlarged Asian-focused flagship commercial REIT with stability and scale. For MNACT unitholders, they will enjoy immediate and attractive financial returns with the scheme consideration at a premium over MNACT's trading prices while remaining invested in a bigger and more diversified platform. They will also benefit from the larger market capitalisation and increased representation in key indices through the enlarged platform that would potentially attract a wider investor base and further improve trading liquidity," Cindy Chow, MNACT CEO.