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Investing.com-- Frasers Property Ltd (SGX:FRPL) is considering a privatization bid for its Singapore-listed hospitality real estate investment trust, Frasers Hospitality Trust (SGX:FRHO), the Wall Street Journal reported on Monday, citing people familiar with the matter.
Talks are at an early stage, and there is no certainty that a deal will be reached, the report said.
Frasers Hospitality Trust, listed on the Singapore Exchange (OTC:SPXCY) since 2014, owns a S$2 billion portfolio comprising eight hotels and six serviced residences across Asia, Australia, and Europe.
Frasers Property currently holds a 24.23% stake in the trust, while its majority shareholder, TCC Assets, owns 36.72%, the WSJ report said.
This comes after a previous privatization attempt in 2022 failed to secure enough shareholder support. Shares of both entities are currently under a trading halt.
Last month, Frasers Hospitality Trust said its managers were reviewing the business and considering strategic options.