First Sponsor takes 24.7% stake in 50.4m euro buy of Hilton Rotterdam

Singapore

FIRST Sponsor group is taking a 24.7 per cent stake in a consortium's 50.4 million euro (S$81.5 million) acquisition of the Hilton Rotterdam hotel in the Netherlands.

The purchase price is the aggregate of the property's commercial value of 51.0 million euros and the estimated amount of cash and working capital that the target will have at completion, said First Sponsor, a developer of property in China and the Netherlands. The final consideration will be subject to closing adjustments.