Friday, June 15, 2012

Orchard Parade to sell 3 assets to SGX-bound hospitality trust

Business Times: Thu, Jun 14
IN a major step towards the much-anticipated listing of Far East Hospitality Trust, which is expected to own about $2 billion of assets, Orchard Parade Holdings (OPH) yesterday unveiled plans to sell leasehold interests in three assets to the proposed trust for at least $702 million.

OPH is 58.87 per cent owned by Far East Organization.

On June 12, the trust received a letter of eligibility from the Singapore Exchange for the listing of up to about 1.785 billion stapled securities...
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