Goodwood Park's holding company offers to buy over minorities at a premium to group's revalued NAV

Singapore

"HOUSEKEEPING" of a different kind is underway at the owner of the iconic Goodwood Park Hotel on Scotts Road. In a move to neaten its organisational structure, Hotel Holdings, the holding company of the now-delisted Goodwood Park Hotel Ltd, is looking to consolidate its diverse shareholdings under a single firm.

It would be the second property group in recent months to make such an attempt, following a similar consolidation move by CK Tang in May this year.

On Friday, Hotel Holdings launched a voluntary unconditional cash offer for all the remaining shares in the company that it does not own at S$43 per share. The offerer is almost wholly owned by the estate of the late Khoo Teck Puat, who at one point was t…