IGB sells KL's Renaissance hotel for RM765m
Company to use proceeds from the sale to, among other things, repay loans to fully redeem certain assets
Add BT as a preferred sourceKuala Lumpur
MALAYSIA's IGB Corporation has disposed of Renaissance Kuala Lumpur Hotel in the heart of the city for RM765 million (S$257 million) in a sale it said would allow it to "unlock business assets at a favourable price".
The disposal by IGB's wholly owned subsidiary Great Union Properties Sdn Bhd (GUP) to Ventura International Sdn Bhd (formerly known as Canali Logistics Sdn Bhd) was undertaken in a conditional sale and purchase agreement on Monday.
TRENDING NOW
Firm loses wrongful dismissal case despite following termination clause
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Soilbuild’s Lim Chap Huat sues Brookfield, claims it reneged on joint venture: WSJ
Citi, OCBC downgrade UOB post-Q2 results; RHB upgrades on valuation
