ICP's (SGX:5I4) wholly-owned subsidiary, MHI SG 1, entered into a shareholders' agreement to acquire a 5% stake in TLJ SG Holdings I (SG HoldCO), according to a filing with the Singapore Exchange on Thursday.
MHI has also entered into an amended and restated exempted limited partnership agreement which allows the group to have a limited partnership interest of 5% in TLJ Master Holding LP. The remaining interest of 95% is held by TLJ Holding.
Through the acquisition of a 5% stake, the group has a minority stake in a 13-story hotel property located in Chuo Ward, Osaka, Japan which has a land area of 1072.78 square meters.
The aggregate consideration payable by the group for the acquisition of the effective interest is around 387.5 million Japanese yen.
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