SINGAPORE: United Industrial Corporation Limited’s indirect subsidiary, S.L. Development Pte. Limited has agreed to acquire 24.27 percent shares of Marina Centre Holdings Private Limited for an aggregate consideration of S$485.33 million.
The shares proposed to be acquired include 10 percent of the ordinary shares in the capital of Marina Centre Holdings Private Limited in issue from OUE Limited; 10.27 percent shares in issue from Finnegan Investments Limited and 4.0 percent Marina shares in issue from Mackmoor Pte Ltd.
Marina Centre Holdings (MCH) is an existing indirect subsidiary of United Industrial Corporation (UIC).
MCH is a property group with investments in the Marina Square retail and commercial complex, comprising the Marina Square Shopping Mall and the Marina Square hotels (Pan Pacific Singapore, Marina Mandarin Singapore and the Mandarin Oriental, Singapore).[the_ad id=”31605″]