Croesus Retail Trust Says It Was Approached With Offer

By P.R. Venkat Features Dow Jones Newswires

Croesus Retail Trust (S6NU.SG) has been approached with an offer, and talks are in preliminary stages, the company said Wednesday.

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Croesus Retail said in a filing to the Singapore Exchange that Citigroup Inc. (C) has been appointed as the financial adviser with regard to the approach. There is no certainty that the talks will result in any transaction, it added.

Croesus Retail didn't name the party that made the approach.

Singapore-listed Croesus operates retail properties in Japan, and its portfolios are valued at 1.5 billion Singapore dollars (US$1.1 billion).

Croesus Retail has a market capitalization of US$518 million.

Write to P.R. Venkat at venkat.pr@dowjones.com

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(END) Dow Jones Newswires

April 25, 2017 22:06 ET (02:06 GMT)