UOL eyes Pan Pacific Hotels buyout

05/10/2013 | Bloomberg Businessweek

Wee Cho Yaw's UOL Group, a Singapore property development firm, will take its Pan Pacific Hotels Group private. UOL owns 81.6% of Pan Pacific and offered to purchase the rest of the shares. "In the last five or six years, UOL has done a lot of things to consolidate their assets. This is really another move to consolidate," said Donald Chua, an analyst at CIMB-GK Pte.

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