SINGAPORE - Singapore Press Holdings is acquiring five aged care assets in Japan for 5.26 billion yen as it expands overseas in markets with fast-ageing populations.
It marks SPH's first acquisition from leveraging on its tie-up in October last year with asset manager Bridge C Capital to set up a fund for investing in aged care and healthcare assets in Japan. Mr Anthony Tan, SPH deputy CEO, said the move builds on SPH's acquisition in 2017 of Orange Valley, one of Singapore's largest private nursing home operators.
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