Ascendas Hospitality Trust says unnamed buyer interested in takeover

Ascendas Hospitality Trust (A-HTRUST) said on Wednesday (Dec 23) its managers are reviewing various strategic options after an unnamed party expressed interest in buying the trust.

“This follows the recent receipt of an unsolicited expression of interest (EOI) relating to the possible acquisition of all the stapled securities issued by A-HTRUST,” the trust said in a stock market filing.

“The managers have therefore initiated discussions with various parties to evaluate the viability of the EOI.”

A-HTRUST owns the Park Hotel Clarke Quay and 10 other hotels in Australia, China and Japan.

Its listed units, which were suspended from trading in the morning, rose 4.3 per cent to 72.5 Singapore cents around 1.30pm Singapore time.

A-HREIT said discussions are presently at an early stage. As such, there is no certainty that any transaction will materialise from the current discussions.

Source : Channel NewsAsia – 23 Dec 2015

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