Asset Acquisitions and Disposals::ACQUISITION OF HILTON MELBOURNE SOUTH WHARF

Issuer & Securities

Issuer/ Manager
UOL GROUP LIMITED
Securities
UOL GROUP LIMITED - SG1S83002349 - U14
Stapled Security
No

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
03-Mar-2017 18:10:25
Status
New
Announcement Sub Title
ACQUISITION OF HILTON MELBOURNE SOUTH WHARF
Announcement Reference
SG170303OTHRHRKE
Submitted By (Co./ Ind. Name)
Foo Thiam Fong Wellington
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of UOL Group Limited wishes to announce that:

(a) a wholly-owned unit trust "Success Venture (Melbourne) Unit Trust" (the "Purchaser") was established in Australia on 27 February 2017; and

(b) its wholly-owned Australian subsidiary, Success Venture Pty Limited acting in its capacity as trustee for the Purchaser has entered into a property and business asset sale agreement with HHR Conventions Pty Ltd today for the acquisition of Hilton Melbourne South Wharf for an aggregate cash consideration of A$230.0 million (or approximately S$246.1 million), subject to usual post-completion adjustments.

Please see attached detailed announcement.

Attachments

UOL_Acquisition_Melbourne_Hotel.pdf
Total size =124K