Hotel Properties, Singapore, has received a buyout offer of S$1.8 billion (US$1.4 billion) from a consortium of its long-term shareholders.
The consortium is 68 Holdings, which is 40% controlled by Nassim Developments, a unit of Wheelock Properties, and 60% controlled by Cuscaden Partners, which is controlled by Ong Beng Seng and David Ban Song Long.
Hotel Properties has a portfolio of 28 hotels in 13 countries.