news

Rajah & Tann Singapore has advised Midtown Properties, a unit of Worldwide Hotels Group, on its S$525 million ($389 million) acquisition of a hotel and a shopping arcade in the Little India district from the real estate developer UOL Group, which was represented by WongPartnership.

The sale of the Parkroyal on Kitchener Road – a 542-room hotel – and New Park Shopping Arcade is believed to be the largest single-hotel asset transaction in Singapore this year. UOL will use the net proceeds for its general working capital requirements and to repay its bank loans, the Business Times reported.

The Rajah & Tann team was led by partners Loh Chun Kiat, Norman Ho and Benjamin Tay. Partners Andrew Ang, Monica Yip, and Anna Tan headed the WongPartnership team.

TO CONTACT EDITORIAL TEAM, PLEASE EMAIL ALBEDITOR@THOMSONREUTERS.COM

Related Articles

Deals

White & Case guides $380mln U.S.-Japan LNG deal

by Nimitt Dixit |

Global law firm White & Case has advised Japan Petroleum Exploration Co. (JAPEX) on the acquisition through its U.S. subsidiary of an equity interest in Gulf Coast LNG Holdings, which owns an interest in the Freeport LNG project in Texas, from JERA Americas for approximately $380 million.

Deals

Reed Smith, Freshfields, Kirkland on Henlius’ $691 mln take-private deal

by Hu Yangxiaoxiao 胡阳潇潇 |

Freshfields Bruckhaus Deringer is representing Hong Kong-listed biotech company Henlius on its $691 million take-private deal offer from Shanghai Fosun New Medicine Research Company, which is being advised by Reed Smith.

Deals

Latham, Zhong Lun act on $445 mln France-SG waste treatment deal

by Asian Legal Business《亚洲法律杂志》 |

Latham & Watkins has advised French industrial group Seche Environnement on its S$605 million ($445 million) agreement to buy Singapore’s ECO Industrial Environmental Engineering from Beijing Capital Eco-Environment Protection Group.