Wheelock, tycoon raise offer price for Hotel Properties

SINGAPORE: A consortium that includes Singapore tycoon Ong Beng Seng and Wheelock Properties (Singapore) Ltd has increased its offer price for a stake in Hotel Properties Ltd to S$4 (RM10.33) per share, valuing the company at around S$2.07 billion.

The consortium, 68 Holdings Pte Ltd, agreed in April to acquire nearly 214 million shares in Hotel Properties, representing a 41.9% stake in the company, at S$3.50 each.

This article first appeared in The Edge Financial Daily, on May 15, 2014.


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