Cromwell Prop (CMW AU): ESR Exit Post-Privatization?

Dec 06, 2024

∙ Paid

Back in August 2021, ESR Group (1821 HK) acquired unlisted ARA Asset Management for US$5.2bn.
Included in the transaction (completed early-2022) was ARA's ~30.7% stake in office play Cromwell Property (CMW AU).
ESR has in the past said Cromwell was a non-core holding. With ESR now expected to be privatized by Warburg/Starwood, does this accelerate the narrative?

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