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
Shell earns US$1 billion a year from US crude trading, court filing shows
Sembcorp announces long-term power purchase agreements with Equinix
Hot stock: Singtel down about 3.3% after announcing S$3.1 billion impairment hit
Dubai begins construction of ‘world’s largest’ airport terminal
Hot stock: Seatrium up 5.6% on S$100 million share buyback programme
Gold eases as steady US dollar dampens appeal