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Far East Orchard Subsidiary to Acquire Additional 3% Stake in HFS

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Far East Student Housing, a wholly-owned subsidiary of Far East Orchard (SGX:O10), has exercised its call option to acquire an additional 3% stake in HFS for 1.9 million pounds sterling, according to a Wednesday filing to the Singapore stock exchange.

The transaction is expected to be completed around Sept. 30, after which the company's interest in HFS will increase to 87% from 84%.

The company said the additional acquisition is not expected to have a material impact on the group's consolidated net earnings per share or consolidated net tangible assets per share for the financial year ending Dec. 31.

What else is happening in Asia?

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SHE:300803
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SGX:DRX
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