There will also be further subscriptions by FECIL of shares in the managers at the time of the conversion of the CPS such that FECIL will have a 70 per cent stake in each of the managers.
The special committee and Reit Trustee have thus instructed Moelis to engage with FECIL and the sponsor directors to ensure that any potential deal would not be prejudicial to, and would serve the best interests of the Reit and its stapled security holders. FECIL may nominate executive and independent directors comprising at least four-fifths of the boards of the managers, and the sponsor directors will be entitled to nominate one director to the boards who will not have the right to vote on matters involving any of the sponsor, sponsor directors and their affiliates.
It has been developing and operating hospitality assets for more than 15 years and is currently developing 13 hotels, owns 29 hotels and holds a minority stake in two hotels, all of which are spread across eight countries. Most of the assets are internally managed by FECIL, which also has experience in securing financing for investments in hospitality assets globally.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SPH to be removed from Straits Times Index, replaced by Mapletree Industrial TrustSINGAPORE — Media company Singapore Press Holdings (SPH) will be removed as one of the constituents of the Straits Times Index — the benchmark index for the Singapore stock market. It will be replaced by Mapletree Industrial Trust, one of several real estate investment trusts (Reits) under the Mapletree real estate conglomerate.
Source: TODAYonline - 🏆 1. / 99 Read more »
Mapletree Industrial Trust replaces SPH in Straits Times IndexSINGAPORE - Mapletree Industrial Trust has replaced Singapore Press Holdings (SPH) in the Straits Times Index (STI) after the June quarterly review, FTSE Russell announced on Thursday (June 4).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
EHT's sponsor in talks to change control of manager to Far East ConsortiumTHE special committee taking charge of the restructuring and the strategic review of Eagle Hospitality Trust’s (EHT) business has had to abandon expressions of interest from “credible and reputable asset management companies and/or institutional investors”, because of a letter of intent providing a 90-day exclusivity period that the real estate investment trust's (Reit) sponsor, Urban Commons, had signed with Hong Kong-listed property conglomerate Far East Consortium International (FECIL). Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Exclusive: Amazon in talks to buy US$2 billion stake in Indian telco Bharti Airtel - sourcesAmazon.com is in early-stage talks to buy a stake worth at least US$2 billion in Indian mobile operator Bharti Airtel, three sources with ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Exclusive: Amazon in talks to buy US$2 billion stake in Bharti Airtel: sourcesAmazon.com is in early-stage talks to buy a stake worth at least US$2 billion in mobile operator Bharti Airtel, three sources with knowledge of ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Mapletree Industrial Trust replaces SPH in Straits Times IndexSINGAPORE - Mapletree Industrial Trust has replaced Singapore Press Holdings (SPH) in the Straits Times Index (STI) after the June quarterly review, FTSE Russell announced on Thursday (June 4).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »