Far East Orchard has completed the second stage of the phase acquisition of Homes For Students (HFS), a student accommodation provider in the UK, raising its interest to 84%.
Far East Orchard first announced the acquisition of a 49% stake in HFS in April 2024, for GBP17.6 million. It acquired the 49% stake from two non-management sellers.
The group completed the first stage of the phased acquisition, acquiring about 35% of stake in HFS for GBP25 million, about $43.3 million. With its current stake at 84%, HFS becomes a subsidiary of Far East Orchard.
HFS operates over 55,000 beds in more than 55 university towns and cities in the UK and Ireland, providing an integrated student accommodation management and facilities management service.
Far East Orchard plans to acquire the remaining stake in HFS by November 2030.
Shares in Far East Orchard closed 1 cent lower or 0.794% down at $1.25 on Sept 30.
