Frasers Property International Pte. Ltd. and Frasers Commercial Trust (SGX:ND8U) entered into a share purchase agreement to acquire HEREF Farnborough Limited for approximately £170 million on December 14, 2017. Under the agreement, the vendor shall complete the construction of a car showroom, in connection therewith, £10.7 million of the consideration is expected to be held in escrow. The acquisition will be funded from borrowings and/or internal resources. The deal is subject to transfers in agreed form in respect of the sale shares and the seller evidencing the redemption or cancellation of all preferred equity certificates of the HEREF Farnborough which occurred up to completion. Completion of the acquisition is expected to take place no later than January 29, 2018.