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FE CONSORT INTL Sells 49.9% Stake in Australian Hotel to Chairman David Chiu/ Others for $315M
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FE CONSORT INTL (00035.HK) and the purchaser entered into a sale and purchase agreement (SPA) for the conditional sale of a 49.9% stake in the target company and a sale loan, at an aggregate consideration of AUD58.1834 million (equivalent to approx. $315 million), as announced by FE CONSORT INTL. The subject of this transaction is the Ritz Carlton, Melbourne, Australia. The purchaser is indirectly owned 55% by Executive Director Jennifer Wendy Chiu, and 45% by Tan Sri Dato’ David Chiu, the Company’s Chairman. As the two are father and daughter, this constitutes a connected transaction. Auto-translated by AI AASTOCKS Financial News |
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