BRIEF-Hongkong And Shanghai Hotels Announces Restructuring Of JV Arrangements In Thailand

Reuters2020-08-28

Aug 28 (Reuters) - Hongkong and Shanghai Hotels Ltd

* RESTRUCTURING OF JOINT VENTURE ARRANGEMENTS IN THAILAND

* UNIT ENTERED HEADS OF TERMS WITH PHATARAPRASIT SHAREHOLDERS, TO CONFIRM AGREEMENT TO RESTRUCTURE SHAREHOLDING IN HSH-SCH

* UPON SIGNING DEFINITIVE AND LEGALLY BINDING AGREEMENTS JV RELATIONSHIP BETWEEN PARTIES IN HSH-SCH WILL CEASE

* UPON COMPLETION, CO WILL, VIA UNITS, ACQUIRE PHATARAPRASIT SHAREHOLDERS' 50% ECONOMIC INTEREST IN PENINSULA BANGKOK

* DEAL IN CONSIDERATION FOR 50% STAKE IN THAI COUNTRY CLUB AND TCC LAND PARCELS AND CONSIDERATION OF US$70 MILLION

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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