Perennial and SPH raise stakes in partnership holding Chinatown mall (Amended)
PERENNIAL Real Estate Holdings and Singapore Press Holdings (SPH) have bought an additional 60 per cent of a partnership holding Chinatown Point mall and four strata office units above it for a cash consideration of S$92.6 million.
Perennial's effective stake rose from 5.15 per cent to 45.15 per cent.
SPH's stake rose from 7.35 per cent to 27.35 per cent.
Other investors in the partnership include NTUC FairPrice Co-Operative and some other private investors.
Perennial last traded at S$0.82, and SPH, S$3.70.
Amendment note: The article above has been revised to reflect how the investment was in a partnership owning four strata office units, in addition to the retail mall.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
KFC parent Yum reports surprise drop in global same-store sales on weak demand
Pfizer lifts 2024 profit view on cost cuts, higher Covid vaccine demand
Shell exits China power market businesses
DuPont beats profit estimates, raises full-year forecasts
Binance founder Zhao Changpeng gets four months in prison
Apple set for big sales decline as investors await AI in iPhones