LIPPO Group has positioned itself in a pretty sweet spot by buying out ex-partner Ananda Krishnan's stake in Overseas Union Enterprise (OUE), and upping its hold on the property company to 88.52 per cent. With the deal, it has just enough interest to effectively dictate OUE's direction - and also all the time it needs to decide whether to delist the latter, or turn it into a stockmarket darling. For now,...
Lippo
Ties with Lippo had crumbled; TV issue may still go through Indonesian courts THE sale of a 44 per cent interest in Overseas Union Enterprise (OUE) for $957 million will bring closure to a five-year partnership between two South-east Asian tycoons that went sour. But it is unlikely to catalyse the resolution of any business differences that remain. On Tuesday, Indonesian James Riady's Lippo group doubled...
Group will continue to develop, manage prime landmark properties in region It will be business as usual for Overseas Union Enterprise (OUE), even as Indonesia's Lippo Group takes sole control of the property firm. 'There will be no change to OUE's strategy,' Lippo told BT yesterday. 'Leveraging on its hospitality experience, OUE will continue to develop and manage landmark properties in prime locations...
INDONESIA'S Lippo Group, controlled by the Riady family, is buying Malaysian tycoon Ananda Krishnan's key stake in Singapore-listed Overseas Union Enterprise (OUE) in a deal worth $957 million. Since 2006, the two parties have jointly controlled OUE, whose prized assets include the Mandarin Orchard hotel. However, Lippo and Mr Ananda are said to have suffered strained relations in recent times in various...
The tenuous alliance between Indonesia's Riady family and Malaysian tycoon Ananda Krishnan in Overseas Union Enterprise (OUE) has come to an end - at a price of almost $1 billion. Yesterday, the Riadys' Lippo Group paid some $957 million to acquire all of Mr Krishnan's stake - and greater control - in the mainboard-listed property group. With the deal, Lippo's direct and indirect interests in OUE rose to...
Lippo, through its investment unit, Golden Concord Asia, has raised its stake in Overseas Union Enterprise (OUE) in a deal worth S$957 million. The acquired stake was previously held by a Malaysian conglomerate with interests in telecommunications, media, power and gaming. Upon the completion of the transaction, Lippo will hold a 88.5 per cent stake in OUE. OUE is a property and hospitality player in...
Construction and property developer KSH Holdings has secured a S$126.8 million contract to build a condominium development at Singapore's Sentosa Cove. The contract is the first of its kind to be awarded by Lippo Marina Collection for the construction of a luxury housing development at the site. This will be the group's fifth high-end luxury residential property project at Sentosa cove. The deal will bring...
Germany's SEB Group has bought 12 strata-title floors of the office building Anson 79. It is paying S$215 million to Farrell Asset Management for some 10,300 square metres of Grade A office space. SEB already owns another nearby Grade A office building Springleaf Tower. Anson 79 is a 23-storey building in Shenton Way and is within walking distance of Tanjong Pagar MRT station. It has an occupancy of...