In Summary, the highlights of the merger includes:
- CIT to purchase all of KIT's business and assets with new units in CIT based on a fixed swap ratio of 2.106 CIT units per KIT unit.
- KIT will carry out a distribution-in-specie of CIT units to KIT unitholders
- CIT will be renamed "Keppel Infrastructure Trust"
- Distribution of $0.0198 DPU to CIT uniholders before completion of merger (expected in 2Q 2015)
- Distribution of $0.0105 DPU to CIT uniholders after completion of merger.
- Keppel (22.9%) and Temasek (19.97%) will be the 2 largest uniholders/sponsor.
Market seems to like the merger, judging from the jump in share prices for both trusts after the trading halt was lifted.