UIC buying Marina Mandarin and parts of Marina Sq complex
S$675.3m deal puts UIC and parent UOL in charge of hotel and Marina Square Shopping Mall as well as Pan Pacific hotel; UIC to fund purchases with mix of internal resources and bank loans
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Annabeth Leow
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Singapore
THE Marina Mandarin Singapore and parts of the Marina Square complex are changing hands for S$675.3 million, in a deal inked last Friday.
United Industrial Corp (UIC) is buying out Finnegan Investments and Mackmoor, as well as mainboard-listed OUE. The Marina Square shopping centre will then be owned jointly by UIC and its parent, UOL Group.
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