Cuscaden Peak, a consortium comprising Hotel Properties (HPL), Mapletree Investments and CLA Holdings announced on Nov 21 that its has received regulatory approvals for the Cuscaden Scheme from the Monetary Authority of Singapore (MAS) and the Info-Communications Media Development Authority (IMDA), moving the consortium closer to the expeditious tabling of the Cuscaden Scheme to Singapore Press Holdings' (SPH) shareholders.
The regulatory approvals permit the change in control of SPH REIT's manager, and the acquisition of the effective control of the manager of Prime US REIT, as well as the acquisition of an indirect interest in M1 should SPH shareholders vote for the Cuscaden scheme.
