Frasers Property Renews S$1.37B FHT Privatization Bid

Frasers Property, controlled by Thai billionaire Charoen Sirivadhanabhakdi, has launched a second attempt to privatize its Singapore-listed Frasers Hospitality Trust (FHT) at S$0.71 per share, valuing it at S$1.37 billion (US$1.1 billion). The offer represents a 7% premium to the last traded price and a 36.3% premium to FHT’s 12-month volume weighted average. The move follows a failed 2022 bid that did not secure 75% shareholder approval. Frasers Property and its affiliate TCC Assets currently hold a majority stake in FHT. The board cited macroeconomic challenges, such as currency fluctuations, high interest rates, global inflation, Brexit, and the Covid-19 pandemic, as factors potentially limiting FHT's future growth and justifying the deal. Trading in both FHT and Frasers Property remains halted pending further updates.