January 26, 2018 / 7:53 AM / a year ago

Singapore-listed ESR-REIT, Viva Industrial in advanced merger talks - sources

SINGAPORE, Jan 26 (Reuters) - Singapore-listed ESR-REIT and rival Viva Industrial Trust are in advanced merger talks aimed at a share swap deal near current market prices, sources familiar with the matter said on Friday.

In November, ESR Funds Management (S) Ltd, the manager of ESR-REIT, and Sabana Shariah Compliant Industrial REIT called off their talks, which sources said were focussed on ESR-REIT buying Sabana REIT.

ESR-REIT is currently valued at S$744 million ($570 million) and Viva has a market value of S$917 million ($702 million).

Trading in units of both companies was halted on Friday ahead of an announcement.

Asian logistics developer e-Shang Redwood (ESR) is backed by private equity firm Warburg Pincus.

ESR-REIT, Viva and Warburg Pincus declined to comment. There was no immediate reply from ESR. The sources declined to be named as the talks were private.

Bloomberg first reported the talks.

$1 = 1.3072 Singapore dollars Reporting by Anshuman Daga; Editing by Himani Sarkar

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