Fri, Jan 11, 2019 – 5:50 AM
PROPERTY developer Oxley Holdings has accepted a letter of intent (LOI) for the purchase of its Mercure and Novotel hotels along Stevens Road for S$ 950 million, in what market watchers call an urgent attempt by the developer to pare its debt.
The Business Times understands that the buyer is Indonesian magnate Tahir.
In a late announcement on Thursday, Oxley said the LOI i…
The Business Times