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ETC increases effective stake in Yangon mixed luxury project to 60.9% after testing waters

Property

ETC increases effective stake in Yangon mixed luxury project to 60.9% after testing waters

PC Lee Published on Wed, Sep 06, 2017 / 8:13 AM GMT+8

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SINGAPORE (Sept 6): Emerging Towns & Cities Singapore, formerly known as Cedar Strategic Holdings, in increasing its stake in Uni Global Power (UGP), the developer of a luxury mixed-use property in Myanmar, from 70% to 87%.

See: ETC’s corporate turnaround strategy bearing fruit in Yangon

In a Wednesday morning filing, ETC said wholly owned subsidiary DAS on Tuesday entered into a sale and purchase agreement to purchase a 17% stake in UGP for US$11.9 million ($16.1 million).

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ETC increases effective stake in Yangon mixed luxury project to 60.9% after testing waters

Property

ETC increases effective stake in Yangon mixed luxury project to 60.9% after testing waters

Primary tabs

Error message

ETC increases effective stake in Yangon mixed luxury project to 60.9% after testing waters

Property

ETC increases effective stake in Yangon mixed luxury project to 60.9% after testing waters

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