Asset Acquisitions and Disposals::ACQUISITION OF A 154-ROOM HOTEL IN JAKARTA TO BE OPERATED UNDER PAN PACIFIC BRAND

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
23-Jan-2020 18:29:21
Status
New
Announcement Sub Title
ACQUISITION OF A 154-ROOM HOTEL IN JAKARTA TO BE OPERATED UNDER PAN PACIFIC BRAND
Announcement Reference
SG200123OTHROORF
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 (the "Company") wishes to announce that the Company has through its indirect wholly-owned subsidiary, PT Success Venture Hotel Investments, entered into a sale and purchase agreement (the "SPA") with PT Putragaya Wahana for the acquisition of a 154-room hotel at levels 51 to 57 in Tower 2 of Thamrin Nine in Jakarta, Indonesia for an aggregate cash consideration of US$50 million (or approximately S$67.5 million), subject to the usual adjustments provided in the SPA.

Please see attached detailed announcement and news release.

Attachments

UOL_Acquisition_of_Thamrin_Nine_Pan Pacific Jakarta.pdf
News Release - Pan Pacific Jakarta.pdf
Total size =698K