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Perennial, SPH consortium to sell half stake in AXA Tower to Alibaba

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Vivienne Tay

Vivienne Tay

Published Wed, May 6, 2020 · 09:50 PM

Singapore

A CONSORTIUM led by Perennial Real Estate will divest a half stake in Grade A office building AXA Tower to a subsidiary of Chinese e-commerce giant Alibaba Group Holding.

The consortium will also transfer half of an outstanding shareholders' loan to the subsidiary, Alibaba Singapore, Perennial Real Estate said on Wednesday without disclosing the size of the loan.

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