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First Sponsor to buy control of Germany hotel for 49.5m euros

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Published Thu, Feb 21, 2019 · 09:50 PM

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Singapore

PROPERTY firm First Sponsor plans to snap up controlling shares of the Westin Bellevue Dresden hotel, located in Dresden, Germany, with acquisition cost valued at about 49.5 million euros (S$75.7 million), it said on Thursday.

First Sponsor plans to buy 94.9 per cent of two German companies that own and operate the hotel, with the remaining held by Event Hotels Group.

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