United Industrial Corp raises stake in Marina Centre to 77.34% with $675.3 million deal

Michelle Zhu
Michelle Zhu4/13/2019 04:35 PM GMT+08  • 2 min read
United Industrial Corp raises stake in Marina Centre to 77.34% with $675.3 million deal
SINGAPORE (April 13): United Industrial Corporation (UIC), a subsidiary of UOL Group, is acquiring a further 24.27% stake in its 53.07%-owned indirect subsidiary Marina Centre Private Holdings (MCH) for $485.3 million to be paid in cash.
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SINGAPORE (April 13): United Industrial Corporation (UIC), a subsidiary of UOL Group, is acquiring a further 24.27% stake in its 53.07%-owned indirect subsidiary Marina Centre Private Holdings (MCH) for $485.3 million to be paid in cash.

10%, 10.27% and 4% of the sale shares will be purchased from vendors OUE Limited, Finnegan Investments Limited, and Mackmoor Pte Ltd for $200 million, $205.3 million and $80 million, respectively.

Additionally, UIC will also acquire a 25% holding in Aquamarina Hotel Private Limited (AHPL), an associated company of MCH and UIC Group, from OUE’s subsidiary Hotel Investment (Marina) for a sum of $190 million.

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