EHT's trustee, DBS Trustee, has now directed its financial adviser Moelis & Company to commence a request for proposal process “on an expedited basis” from parties interested to enter into a deal with EHT.
Singapore Exchange Regulation , the regulatory arm of SGX, has required that all bids under the RFP process are to be considered without any restrictions on the eligibility of parties to participate. This is following the discovery of"prejudicial" interested-person transactions in the form of agreements between the duo and master lessees involved in the trust’s hotel assets.
The transactions were noted to be prejudicial to the interests of EHT and its minority stapled security holders.
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Source: The Straits Times - 🏆 8. / 63 Read more »