UPDATE 1-Singapore's Straits Trading buys $238 mln stake in real estate manager ARA

* Straits Trading buys 20.1 pct stake in ARA for S$294.4 million ($238 mln)

from Reuters: Financial Services and Real Estate http://feeds.reuters.com/~r/reuters/financialServicesRealEstateNews/~3/L1JnNzjkt9E/story01.htm