SINGAPORE (April 14): A consortium led by Heeton Holdings has fully acquired LC London, which owns the Crowne Plaza London Kensington hotel in London, UK, for £84.3 million ($148.9 million).
AF Global, who in Dec last year announced it was selling full ownership rights for Crowne Plaza London Kensington for some £84.4 million in cash, is the former owner of LC London. It is also a subsidiary of SGX-listed companies Aspial Corp and Fragrance Group.
According to the respective equity percentages owned by each consortium partner, Heeton now owns a 60% stake LC London as well as in the hotel, with its consortium partners KSH Holdings and Ho Lee Group owning a 20% stake each.
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