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CapitaLand’s Ascott group acquires additional 60% stake in Quest Apartment Hotels for $191 mil

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CapitaLand’s Ascott group acquires additional 60% stake in Quest Apartment Hotels for $191 mil

Samantha Chiew Published on Wed, Jul 05, 2017 / 7:28 AM GMT+8

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SINGAPORE (July 5): The Ascott, a wholly owned subsidiary of CapitaLand, this morning announced that it is acquiring an additional 60% stake in Quest Apartment Hotels for A$180 million ($191 million).

Ascott’s stake in Quest will increase to 80%, from its current 20%, becoming the majority shareholder in Quest.

With the acquisition, the group will become the largest serviced residence provider across Australia, New Zealand and Fiji.

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