GP Hotels' privatisation bid declared unconditional
GLOBAL Premium Hotels on Thursday said the privatisation offer has been declared unconditional, with the major shareholder controlling 90 per cent of the company's shares.
The hotel chain operator's majority shareholder and real estate tycoon, Koh Wee Meng, had launched a cash offer to take the firm private. At the time of the offer in February, Mr Koh already controlled 71.86 per cent of GP Hotels.
The offer of 36.5 cents a share will remain open for acceptance until 5.30 pm on April 27, 2017.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Syngenta to withdraw China IPO application on weak market: sources
Chinese firms’ fundraisings in limbo as IPOs scrutinised at home and abroad
China’s Huawei continues rebound with strongest earnings growth since 2019
Hatten Land gets notice of default, letter of demand for RM14 million, appoints financial adviser
ComfortDelGro wins contracts to run buses in Manchester
Sam Bankman-Fried, at sentencing, acknowledges FTX customers have suffered