SINGAPORE - Amid the novel coronavirus outbreak, Singapore Press Holdings will not be going ahead with its C$232.9 million proposed acquisition of six senior housing properties in Canada.
On Monday night , SPH said in a bourse filing:"The purchaser and the vendor have mutually agreed not to proceed with the acquisition and to terminate the agreement as a matter of prudence in the light of global market instabilities caused by the Covid-19 pandemic." The six freehold assets in Canada comprised five independent living properties in Ontario and one assisted living property in Saskatchewan.
Canada has reported more than 2,000 cases of the coronavirus as at March 23, while the neighbouring United States has the third largest number of cases in the world, totalling over 43,600, behind China and Italy.
After covid is done, prob halve the home be empty
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