OUE to buy LCH Hotels for $224.5mn

OUE will advance LC Airport Hotel a sum equal to the Loan Settlement SUm of $68.5 million to discharge the Shareholders Loans and LC Airport Hotel's bank borrowings.

According to the agreement, LC Airport Hotel will on Completion have an estimated surplus of current assets over current liabilities of $6.5 million.

The acquisition of the hotel will add to OUE's hospitality portfolio in Singapore, said Phillip Securities Research.

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