Channel NewsAsia

68 Holdings has control over 57.73% of shares in HPL

68 Holdings has said that, together with parties acting in concert with it, it now has control over 57.73 per cent of shares in developer Hotel Properties. 

SINGAPORE: 68 Holdings has said that, together with parties acting in concert with it, it now has control over 57.73 per cent of shares in developer Hotel Properties.

68 Holdings is a consortium that includes Singapore tycoon Ong Beng Seng and Wheelock Properties.

It launched a takeover bid for HPL in April at S$3.50 per share and later revised the offer to S$4.05 each.

This values HPL at more than S$2 billion.

The offer closed on Thursday.

HPL owns or manages 28 hotels across the region, including the Four Seasons and Hilton hotels in Singapore.

It also operates 10 Hard Rock Cafe outlets in Asia and has interests in the Haagen-Dazs franchises in Singapore and Malaysia. 

Tweet photos, videos and updates on this story to  @channelnewsasia