Dbs sold pwc building.
 Today, 04:47 PM |
#1 |
|
High Supremacy Member  Join Date: May 2013 Posts: 25,179 |
Dbs sold pwc building. http://ift.tt/2kdRNvf
SINGAPORE - DBS Group Holdings said on Friday (Feb 10) it has agreed to sell PwC Building at Cross Street to an indirect subsidiary of Manulife Financial Corp in a deal that values the 28-storey office tower at S$747 million. The deal is done through the sale of its entire equity interest in DBS China Square, which owns PwC Building that was constructed in 1999, for about S$358 million in cash. It takes into account the repayment by the purchaser of the shareholder’s loan of S$402.6 million to DBS China Square. The price is subject to certain post-completion adjustments which are not expected to be material, DBS Group Holdings said. The deal is expected to be completed by the end of March. Upon completion, the sale is expected to contribute approximately S$350 million to the consolidated net tangible assets as well as earnings of DBS Group Holdings, the banking giant said. |
 |
 |
