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Singapore's Hotel Properties taken over by founder.

New York (USAsian Network Business & Industry News) Wed, Apr 16, 2014 - Singapore-based Hotel Properties has received a buyout offer from its founder and managing director, Ong Beng Seng, and Wheelock Properties, a unit of Wheelock & Co. Ong and Wheelock Properties have increased their stake in Hotel Properties to 41.9% by acquiring about 214 million shares of the company for $2.80 each through their consortium 68 Holdings, and plan to buy the remaining shares for the same price. The deal puts Hotel Properties' value at $1.4 billion.

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Publication:USAsian Network News & Business & Industry News
Date:Apr 21, 2014
Words:104
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