LH Group plans to acquire Pacific Star Dev in S$140m RTO deal

Singapore

LH GROUP said on Thursday it plans to acquire real estate fund management company Pacific Star Development in a S$140 million reverse takeover (RTO) deal.

Singapore-based Pacific Star has invested on behalf of its institutional investors in several prime properties such as Wisma Atria, Ngee Ann City and Tripleone Somerset. It is currently negotiating to secure a pipeline of prime land parcels in parts of Asean for future expansion and diversification of its property development business, LH Group said in a regulatory statement.