KUALA LUMPUR: Eastern & Oriental Bhd
’s (E&O) indirect wholly-owned subsidiary, Hammersmith Properties Ltd, has proposed to dispose of two freehold land parcels in Hammersmith, London, to Varsity Capital 1 Propco Ltd for a minimum cash consideration of £75mil or RM427.8mil.
In a filing with Bursa Malaysia, E&O said the proceeds from the proposed disposal will be used for potential property development and investment opportunities or, alternatively, to repay the group’s existing borrowings.
