Debt-hit Lim family's Universal Terminal now with Jurong Port
Port operator acquires 41% stake in giant oil facility; stake reportedly valued at between S$400m and S$500m
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SINGAPORE port operator Jurong Port has completed its acquisition of Universal Terminal, a commercial storage facility on Jurong Island and a prized asset of the Lim family of failed Hin Leong Group, making it the largest independent oil storage operator in Singapore.
A spokesperson from Jurong Port confirmed to The Business Times that the acquisition of a 41 per cent stake in the giant oil terminal was done but declined to comment on the price tag. BT understands that the stake was valued at between S$400 million and S$500 million.
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