Oxley Gem

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 ...