Far East Orchard Completes Acquisition of 42% Stake in Far East H-Trust Management Entities
MT Newswires11-02
Far East Hospitality Trust (SGX:Q5T) said Far East Orchard's (SGX: O10) acquisition of an additional 42% stake in each of the trust's two management entities from FEO Asset Management has closed, according to a Friday filing with the Singapore Exchange.
Following the transaction, Far East Orchard holds a 75% stake in both managers, while FEO Asset Management retains the remaining 25%.
The transaction involved 886,200 shares in the Far East Hospitality Real Estate Investment Trust and 63,042 shares in Far East Hospitality Business Trust.
The trust will remain anchored in Singapore, while evaluating future expansion opportunities based on strategic fit, capital requirements, and projected returns.
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