Far East Shopping Centre gets offer of under S$900 million for collective sale, below guide price
An earlier deal to acquire the building for about S$910 million did not go through
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FAR East Shopping Centre, the Orchard Road retail property put up for en bloc sale last year, has received an offer under S$900 million, at a price that is slightly more than 5 per cent below its guide price of S$928 million, The Business Times understands.
The offer comes in the wake of a fresh tender called in April, after an earlier deal to acquire the building for about S$910 million came undone. The second tender had closed on May 2 without bids.
An extraordinary general meeting has been called for the building’s owners to sign a supplementary agreement to lower the price on the collective sale. The meeting will be held on May 31.
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