SINGAPORE (Oct 31): Ascott Residence Trust (Ascott REIT) has divested its entire stake in The Ascott (Vietnam) Investments for a total consideration of US$10 million ($13.7 million).
The Ascott (Vietnam) Investments owns a 70% stake in West Lake Development, a Vietnamese project company. The remaining 30% is held by Hanoi Housing Development and Investment Corporation.
West Lake Development in turn wholly owns Somerset West Lake Hanoi, a serviced residence which was valued at $13.3 million as at June 30.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
