The latest deals among listed entities in Singapore has seen SIIC Environment Holdings complete the acquisition of CITIC Envirotech Water Resource (Hegang) Co., Ltd for RMB112 million, while Fragrance Group Limited has entered into a contract to acquire imperial hotel for £12.8 million.
SIIC Environment Holdings completes acquisition of CITIC Envirotech Water Resource for RMB112m
Water treatment group SIIC Environment Holdings Ltd has acquired CITIC Envirotech Water Resource (Hegang) Co. from CITIC Envirotech Ltd. through its indirect subsidiary, Longjiang Environmental Protection Co.
CEW Hegang was acquired for RMB112 million and was funded by internal cash resources. It is currently involved in the operation of two waste water treatment plants and one reclaimed water project with a total design capacity of 110,000 tons per day.
Fair value estimate of CEW Hegang as determined by an independent valuer ranged between RMB 110.89 million to 111,05 million.
Fragrance Group to acquire Imperial Hotel for £12.8m
The Group’s subsidiary, Fragrance UK-Blackpool Limited, entered into an agreement to purchase the four-star hotel located at North Promenade.
The historic hotel built in 1867 has a total land area of approximately 9,388 square metres and boasts more than 180 bedrooms and nine suites.
The acquisition of the Property is not expected to have a material impact on the net tangible assets or earnings per share of the Company for the current financial year ending 31 December 2017.