LHN unit Coliwoo agrees to sell River Valley Road property subsidiaries for S$ 45.5 million

By Public Technologies
  • LHN Ltd’s Coliwoo unit agreed to sell Coliwoo RV1 and Coliwoo RV2 to Qing Feng Construction via put-and-call option agreements.
  • Base purchase price totals S$45.5 million, split S$14 million for RV1 and S$31.5 million for RV2, subject to net-asset adjustments.
  • Assets include properties at 298 River Valley Road and 288 River Valley Road; buyer paid 1% earnest deposits of S$140,000 and S$315,000.
  • 4% option fees due within three business days total S$1.82 million; completion cash partly earmarked to repay property-backed borrowings.
  • Leaseback planned for three years to keep operating both properties under the Coliwoo brand; estimated net proceeds about S$18.7 million.


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