singapore-tops-malaysian-bid-for-grand-hotel-group

Singapore tops Malaysian bid for Grand Hotel Group

Singapore's Tuan Sing Holdings bids for Grand Hotel Group valuing the Australian hotel chain at $221 million.

Sameera Anand

November 03, 2006

Tuan Sing Holdings of Singapore bid for 100% of AustraliaÆs Grand Hotel Group yesterday, valuing the company at A$285 million $221 million. The offer has topped a bid by Malaysia's Mulpha International Berhad. Grand Hotel has yet to respond to Tuan Sing's offer.

Grand Hotel Group GHG owns four Hyatt hotels including the Grand Hyatt Melbourne and Hyatt Regency Perth, two Chifley hotels and one Country Comfort hotel in Australia. The net book value of the hotels as of June 30, 2006, stood at A$343.6 million. GHG is listed on the Australian Stock Exchange and comprises of two entities, Grand Hotel Company and Grand Hotel Trust, which are joined in a stapled security...

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