Longcheer in MOU to buy Pacific Star's stake in Iskandar project
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Singapore
SINGAPORE-LISTED Longcheer Holdings has entered into a non-binding memorandum of understanding (MOU) with Pacific Star Development to acquire the latter's 51 per cent interest in Puteri Cove Residences & Quayside for S$120-150 million in a cash-cum-shares transaction.
The other 49 per cent interest of this development project in Puteri Harbour, Iskandar Malaysia is still held by boutique developer DB2 Group.
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