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Far East Consortium's acquisition of controlling stake in EHT falls through

No definitive agreement relating to the transaction has been inked since the announcement on June 3

Uma Devi

Published Fri, Jul 24, 2020 · 09:50 PM

Singapore

HONG Kong-listed property conglomerate Far East Consortium International (FECIL) will not be proceeding with the proposed acquisition of a controlling stake in Eagle Hospitality Trust's (EHT) manager, EHT's manager said in a regulatory filing late Thursday.

On June 3, EHT had announced that FECIL had inked a non-binding conditional proposal with Urban Commons. FECIL was to acquire 70 per cent in both EHT's Reit manager and its trustee-manager.