Letter of Intent (LOI)

Oxley's potential $950 mil deal falls through after Gracious Land defaults on $38 mil deposit
SINGAPORE (Mar 20): Oxley Gem, a subsidiary of Oxley Holdings, has terminated the letter of intent (LOI) it received from Gracious Land in Jan for the $950 million purchase of its Mercure and Novotel hotels, after not receiving a subsequent deposit of $38 million when it was due. In a late night filing on Tuesday, the group says Gracious Land has requested for a refund of the initial $9.5 ...
Procurri falls 9.7% to 28 cents as New State also withdraws acquisition offer
SINGAPORE (Feb 19): Shares of Procurri Corporation fell on Tuesday morning after it announced that potential investor New State Capital Partners had withdrawn its acquisition offer. The latest withdrawal follows the Feb 8 termination of discussions by a second potential offeror after New State to acquire the company through a possible voluntary general offer. Enterprise hardware ...
Second potential offeror rescinds expression of interest to acquire Procurri less than 24 hours later
SINGAPORE (Feb 8): Procurri Corporation says the second potential offeror to express interest in acquiring the company after New State Capital Partners LLC has now decided to terminate further discussions on the matter. The update comes less than 24 hours after Procurri had received its second, unsolicited non-binding expression of interest (EoI) from an unnamed third party to acquire the ...
Oxley to get much-needed hongbao if hotel sale deal is on
SINGAPORE (Jan 14): Property group Oxley could potentially reduce net debt-to-equity to 1.8 times from 2.5 times as at Sept 2018 if sale of its Mercure and Novotel hotels on Stevens Road is completed. That's because that the cash proceeds will be able to alleviate some of the group’s urgent cash requirements, says DBS Group Research, especially in repaying its retail bonds – $300 ...
Oxley accepts LOI from buyer of Mercure and Novotel hotels on Stevens Road
SINGAPORE (Jan 10): Oxley announced that its wholly-owned subsidiary, Oxley Gem, has accepted a letter of intent (LOI) today for the purchase of Mercure and Novotel hotels located at 28 and 30 Stevens Road for a total consideration of $950 million. The LOI is intended to be non-binding and is subject to the parties entering into a definitive sale and purchase agreement. Under the terms of ...
OUE Lippo Healthcare and China Merchants Group to develop, operate Shenzhen hospital
SINGAPORE (Dec 12): OUE Lippo Healthcare has entered into a non-binding letter of intent (LOI) with China Merchants Shekou Industrial Zone Holdings, to jointly develop, operate and manage a high-end international hospital in Shenzhen, China. The hospital located in Shekou is expected have more than 200 beds serving the local community, and tapping into the medical tourism industry in the ...
Datapulse announces diversification plans with intended acquisition of hotel in Seoul
SINGAPORE (Oct 4): Datapulse Technology is seeking to acquire a hotel located near the Myeongdong district in Seoul, Korea, as part of its plans to expand the company’s core business from optical disc manufacturing to include hotel and hospitality investments.   In an Oct 3 filing to the SGX, Datapulse announced having signed signed a letter of intent (LoI) for the acquisition with an ...
Vard signs LOI to build two environmentally-friendly Viking cruise vessels for $750 mil
SINGAPORE (Apr 4): Vard Holdings has signed a letter of intent (LoI) to design and construct two environmentally-friendly cruise vessels for Viking, a Swiss cruise line which currently operates a fleet of more than 60 vessels, for a potential contract value of NOK 4.5 billion ($750 million). Both parties mutually intend to enter into a final contract by mid-2018. The two vessels are to be ...
Gaylin signs LOI to acquire marine services firm Amos International in all-shares deal
SINGAPORE (Mar 26): Gaylin Holdings has entered into a non-binding letter of intent (LOI) with Lighthouse Logistics and Danny Lien to acquire 100% stake in Amos International Holdings. The consideration for the acquisition has yet to be agreed on but is to be fully satisfied by the issuance of new Gaylin shares. Amos International is a marine and offshore services company that provides ...
SembMarine signs LoI to construct & integrate Shell Offshore’s Vito FPU
SINGAPORE (Dec 5): Sembcorp Marine’s wholly-owned subsidiary, Sembcorp Marine Rigs & Floaters, has signed a letter of intent (LoI) with Shell Offshore for the construction of the hull and topside of, as well as the integration of, a single topside module known as the Vito floating production unit (FPU). See: Positive news for SembMarine if $1.7 bil Shell Vito project win is true The ...