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Perennial divests entire 30% stake in 111 Somerset for $155.1 mil

The Edge Singapore
The Edge Singapore4/16/2020 6:50 PM GMT+08  • 3 min read
Perennial divests entire 30% stake in 111 Somerset for $155.1 mil
Perennial Real Estate Holdings Limited (Perennial) has divested its entire 30% stake in Perennial Somerset Investors Pte. Ltd (PSIPL) to its 70% shareholder, Simply Swift Limited, for a total consideration of $155.1 million.
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SINGAPORE (Apr 16): Perennial Real Estate Holdings (PREH) has divested its entire 30% stake in Perennial Somerset Investors (PSIPL) to its 70% shareholder, Simply Swift, for a total consideration of $155.1 million.

PSIPL owns 111 Somerset, a prime integrated development in Orchard Road that comprises two premium grade office towers and a retail podium.

See also: Perennial looks to China for long-term growth

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