Coliwoo sells subsidiary, leases back Pasir Panjang hotel
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Coliwoo announces the sale of 80% interest in its subsidiary Coliwoo PP Pte. Ltd and leaseback of Coliwoo Hotel Pasir Panjang. The transaction ensures no disruption to current operations and services. Gross proceeds are $43.9m, with net proceeds of $15.3m to repay loans and for working capital.
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Source: Singapore Business Review The copyright of this article belongs to the original author/organization.
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