news

Rajah & Tann Singapore has advised Midtown Properties, a unit of Worldwide Hotels Group, on its S$525 million ($389 million) acquisition of a hotel and a shopping arcade in the Little India district from the real estate developer UOL Group, which was represented by WongPartnership.

The sale of the Parkroyal on Kitchener Road – a 542-room hotel – and New Park Shopping Arcade is believed to be the largest single-hotel asset transaction in Singapore this year. UOL will use the net proceeds for its general working capital requirements and to repay its bank loans, the Business Times reported.

The Rajah & Tann team was led by partners Loh Chun Kiat, Norman Ho and Benjamin Tay. Partners Andrew Ang, Monica Yip, and Anna Tan headed the WongPartnership team.

TO CONTACT EDITORIAL TEAM, PLEASE EMAIL ALBEDITOR@THOMSONREUTERS.COM

Related Articles

Appointments

KPMG Hong Kong law firm founder heads to CRS

by Nimitt Dixit |

UK law firm Charles Russell Speechlys has hired a team of four attorneys from SF Lawyers, KPMG’s law firm in Hong Kong, led by the firm’s founder and managing partner, Shirley Fu.

Deals

Haiwen, CC advise on China TCM's $2 bln take-private deal

by Hu Yangxiaoxiao 胡阳潇潇 |

Sinopharm Group, an investment consortium led by Sinopharm Group, and China Traditional Chinese Medicine Holdings (China TCM) recently announced a take-private deal for the Hong Kong-listed China TCM through a scheme of arrangement.

Other News

Japan’s TMI establishes 2nd Malaysia alliance, sets up new office

by Mari Iwata |

Major Japanese law firm TMI Associates has entered into an alliance with Malaysian law firm SY Teo & Co, set up by Sze Yi Teo, an associate in TMI’s Singapore office. The alliance will also establish an office in Kuala Lumpur under the name of SY Teo & Co in Association with TMI Associates.