Asset Acquisitions and Disposals::ACQUISITION OF 180 APARTMENTS IN JAKARTA TO BE OPERATED AS SERVICED SUITES UNDER PARKROYAL 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
16-Jul-2018 19:19:32
Status
New
Announcement Sub Title
ACQUISITION OF 180 APARTMENTS IN JAKARTA TO BE OPERATED AS SERVICED SUITES UNDER PARKROYAL BRAND
Announcement Reference
SG180716OTHREIGA
Submitted By (Co./ Ind. Name)
Yeong Sien Seu
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 the Company has through its indirect wholly-owned subsidiary, PT Success Venture Serviced Suites Investments, entered into sale and purchase agreements with PT Putragaya Wahana for the acquisition of 180 apartments in Tower 2 of Thamrin Nine in Jakarta, Indonesia for an aggregate cash consideration of US$56.3 million (or approximately S$76.3 million).


Please see attached detailed announcement and news release.

Attachments

UOL_Acquisition_of_Thamrin_Nine.pdf
Media Release - UOL expands hospitality presence in Jakarta.pdf
Total size =708K