divestment

SINGAPORE (Jan 14): Property group Oxley could potentially reduce net debt-to-equity to 1.8 times from 2.5 times as at Sept 2018 if sale of its Mercure and Novotel hotels on Stevens Road is completed.

SINGAPORE (Jan 10): Oxley announced that its wholly-owned subsidiary, Oxley Gem, has accepted a letter of intent (LOI) today for the purchase of Mercure and Novotel hotels located at 28 and 30 Stevens Road for a total consideration of $950 million.

SINGAPORE (Jan 10): OCBC Investment Research is upgrading its call on Ascott Residence Trust (Ascott REIT) to “buy” from “hold” upon raising its fair value estimate for the REIT to $1.18.

SINGAPORE (Jan 9): Ascott Residence Trust (Ascott REIT) on Wednesday entered into a sale and purchase agreement to divest Ascott Rafles Place Singapore for a consideration of $353.3 million.

SINGAPORE (Dec 3): Keppel REIT (KREIT) on Nov 30 announced that it will be divesting a 20% stake in Ocean Financial Centre to Allianz Real Estate for $537.3 million.

SINGAPORE (Sept 12): Serial System, the distributor of electronic components and consumer products, is divesting its entire 27.34% stake in SPL Holdings (Australia) to Anchorage Bridge Street for US$31.2 million ($43 million).

SINGAPORE (Sept 11): OUE Commercial REIT (OUE C-REIT) shocked the market on Tuesday morning by announcing an unabashedly dilutive rights issue, one not seen among the S-REITs since Sabana Shariah Compliant Industrial REIT’s announcement in Dec 2016.

SINGAPORE (Aug 23): Khazanah Nasional, Malaysia's sovereign wealth fund, is in talks to divest its 60% stake in M+S to its joint venture (JV) partner, Temasek Holdings, according to reports from The Malaysian Reserve.

SINGAPORE (July 16): Rex International says that its indirect wholly-owned subsidiary, Rex Caribbean Holding Limited (BVI) and the other shareholders in Steeldrum Oil Company will be divesting their respective stakes in Steeldrum to Columbus Energy (St Lu

SINGAPORE (July 10): Frasers Commercial Trust (FCOT) is divesting 55 Market Street, its 16-storey commercial property at Raffles Place, to an unnamed third party for $216.8 million.