A-HTrust to divest Pullman Cairns International for A$75.1m

Singapore

ASCENDAS Hospitality Trust (A-HTrust) announced on Friday that it had entered into a put and call option deed for the sale of its 50 per cent-owned Australian upscale hotel, Pullman Cairns International in Cairns, Queensland, with Shakespeare Property Group, which will purchase the property at a cash consideration of A$75.08 million (S$79.8 million).

The divestment is expected to be completed by June 30, 2015.