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Frasers Centrepoint buys UK hotel firm for S$770 million

[SINGAPORE] Singapore-listed Frasers Centrepoint Ltd said on Wednesday one of its units has bought a UK boutique hotel operator for 363.4 million pounds (S$770.3 million), to boost its hospitality business.

Property firm Frasers Centrepoint took over MHDV Holdings (UK) Ltd, which owns 29 upscale boutique hotels in 25 cities in the United Kingdom, from an affiliate of KSL Capital Partners, LLC, a US private equity firm, Frasers Centrepoint said.

Barclays Bank PLC and Standard Chartered Bank are the joint financial advisers to Frasers Centrepoint for this acquisition.

REUTERS