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Ascendas Hospitality Trust (A-HTRUST) on Wednesday (23 December) said its managers are undertaking review strategic for strategic options after recently receiving an expression of interest (EOI) to acquire the trust.
In a filing to the stock market, the trust said it is “undertaking this strategic review following receipt recently of an unsolicited expression of interest relating to the possible acquisition of all the stapled securities issued by A-HTRUST,” adding that the managers have therefore initiated discussions with various parties to evaluate the viability of the EOI.
The trust, however, highlighted that as the discussions are presently at an early stage, “there is no certainty that any definitive agreement will be entered into and there is no certainty that any transaction will materialise from the current discussions.”
A-HTRUST has an asset portfolio comprises 11 hotels across Australia, China, Japan and Singapore including Park Hotel Clarke Quay, Pullman and Mercure Brisbane King George Square and Novotel Beijing Sanyuan.
Image source: Park Hotel Clarke Quay website.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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