Deals
Billionaire Wee’s UOL Offers to Take Pan Pacific Hotels Private
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UOL Group Ltd., the Singapore property developer controlled by billionaire Wee Cho Yaw, plans to take its hotel unit Pan Pacific Hotels Group Ltd. private.
UOL, which already owns 81.6 percent of Singapore-based Pan Pacific, offered to buy remaining shares of the hotel operator at S$2.55 apiece, according to a statement to the Singapore stock exchange. That’s a 9 percent premium from yesterday’s close.