TA Global unit completes acquisition of hotel

KUALA LUMPUR: TA Global Bhd's wholly-owned unit, Swiss Liberty Sdn Bhd, has completed the acquisition of the hotel and business of Swissotel Kunshan in Kunshan, China from Kingdom Hotel Investments.

In a filing to Bursa Malaysia on April 8, TA Global said Swiss Liberty has on Jan 31, 2011 signed a sale and purchase of shares agreement to acquire the hotel and business via the purchase of the entire issued share capital of Kingdom Kunshan Ltd, a Cayman Islands-incorporated company.

It said Kingdom Kunshan Ltd owned 100 per cent of the equity of First Shanghai Hotel Group Ltd and 100 per cent of the equity of Sino Dragon Asset Ltd, which in turn owned 65 per cent and 35 per cent respectively of the equity of Kunshan Mamlaka Hotel Co Ltd. -Bernama