Thailand’s MINT makes two acquisitions in Australia for $42m

Image from Gwelo Development website.

Minor International PCL (MINT), one of Asia Pacific’s largest hotel and leisure companies, has made two acquisitions in Australia, a hotel and a management business in Darwin, for AUD57.081 million ($41.78 million), the company said in a regulatory filing. It bought these assets from the subsidiaries of Australia-based property developer Gwelo Development.

According to the report the company made to the Stock Exchange of Thailand today, it will split the acquisition into two deals.

The first one will be made through its wholly-owned subsidiary MHG Australia Investments Pty Ltd, which has acquired a freehold hotel from Gwelo Investments Pty Ltd for AUD41.781 million.

The second deal was to acquire a Management Letting Right business from Gwelo Hotels Ptd Ltd for AUD15.3 million through Oaks Hotels and Resorts Pty Ltd, another subsidiary under MINT’s umbrella.

This acquisition is a part of its plan to expand its business globally and become one of the world’s top hotel operators. It plans to balance the revenue proportion to be 50:50 domestically and internationally.

Earlier this year, MINT has taken over Tivoli Hotels and lands in Portugal and Brazil for $190 million. It also formed a joint venture firm with Thailand’s leading restaurant operator S&P Syndicate PCL to run Thai restaurant business in Europe.

Related stories: Thai hotel chain MINT to takeover all Tivoli hotels in Portugal

Thailand based restaurant operator SNP forms JV with MINT for Europe foray

 

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.