CDLHT hotel deals 'not prejudicial' to securityholders' interests: IFA
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Fiona Lam
Singapore
CDL Hospitality Trusts' (CDLHT) proposed redevelopment of Novotel Singapore Clarke Quay and its potential acquisition of W Singapore in Sentosa Cove are both on normal commercial terms, according to independent financial adviser (IFA) Deloitte & Touche Corporate Finance.
Both deals are "not prejudicial" to the interests of CDL Hospitality Real Estate Investment Trust (H-Reit), CDL Hospitality Business Trust (HBT) or minority securityholders, the adviser said in a circular despatched on Friday. CDLHT is a stapled group comprising H-Reit and HBT.
