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Chip Eng Seng to acquire minority interest in 8 Shenton Way for $2.13 mil

Felicia Tan
Felicia Tan4/5/2022 08:42 AM GMT+08  • 4 min read
Chip Eng Seng to acquire minority interest in 8 Shenton Way for $2.13 mil
Photo: Perennial Holdings
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Chip Eng Seng, on April 5, announced that it has proposed to acquire a minority interest in the property at 8 Shenton Way (the former AXA Tower).

On April 4, Chip Eng Seng’s wholly-owned subsidiary, CEL Shenton, entered into a share purchase agreement (SPA) with Kuok (Singapore), Shenton Circle, Imagine Properties, PE One and Huatland Development (collectively the sellers) to acquire 21.0% of the issued share capital in PRE 13 for a consideration of $2.13 million.

PRE 13 holds a 50% effective stake in 8 Shenton Way.

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