KUALA LUMPUR: Tropicana Corporation Bhd's wholly-owned subsidiary, Tropicana Residences Sdn Bhd (TRSB), today signed a sale and purchase agreement (SPA) with IOI PFCC Hotel Sdn Bhd (IOI PFCC) and Flora Development Sdn Bhd (Flora Development) for the disposal of the W Kuala Lumpur hotel and its assets (W KL) for RM270 million.
It told Bursa Malaysia in a stock exchange filing that the disposal consideration was arrived at a willing buyer-willing seller basis, after taking into consideration the expected "net proforma gain on disposal of (about) RM7.41 million.”
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