Wilmar turns Perennial into associate company for $45.55m

It raised its stake in the company from 16.89% to 20%.

Wilmar International Limited's (Wilmar) subsidiary WCA Pte. Ltd. (WCA) raised its stake in Perennial Real Estate Holdings Limited (PREHL) for $45.55m.

According to a press release, WCA previously held a 16.89% interest in PREHL. It acquired a 3.11% equity interest from Burlingham International Ltd., a company of which a director of Wilmar is deemed to be interested in.

PREHL has now become an indirect 20% owned associated company of Wilmar.

The principal activities of PREHL are investment holding, real estate investment and development, asset and property management services, and healthcare services.

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