Tuan Sing bids for Aussie hotel group

  • Business Premium
  • Friday, 03 Nov 2006

MELBOURNE: Singapore's Tuan Sing Holdings Ltd launched a A$213mil cash bid to buy out Grand Hotel Group, in a move to pick up GHG's hotels below book value. 

Tuan Sing, which already has 25% stake in Grand Hotel, said its offer was a better choice for the shareholders rather than GHG's plan to sell hotels after turning down a A$220mil offer from Malaysian group Mulpha International Bhd

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