Asia
Century City, Paliburg, Regal Transfer Sale of Regal Oriental Hotel to Centaline JV
Century City (HKG:0355), Paliburg (HKG:0617), and Regal (HKG:0078) said they transferred the sale agreement involving the disposal of Regal Oriental Hotel to a Centaline Strategic Investments joint venture, according to a Hong Kong bourse filing Friday.Shares of Paliburg fell over 2% in morning trade on Monday, while Century City was up 1%.The firms had agreed to dispose of Regal Oriental Hotel at a property value of HK$1.52 billion, but said they could not reach a formal agreement with the purchaser, previously identified as Blue Sky Properties, an investment vehicle ultimately owned by Centaline Strategic Investments.Instead, the firms will now sell the property to Goldenridge Worldwide, a joint venture of Centaline and investor Liu De Ye, Ching.All other terms of the original sale agreement remain unchanged, the firms said.
HKG:0078HKG:0355HKG:0617