![]() |
Corporate Lawyers |

![]()
Partner
Corporate
jacqueline.loke@rodyk.com
+65 6885 3699
Acting in the financing aspects for Cockpit International in its sale of IBIS Novena (by way of share purchase) for S$118 million cash. The IBIS Novena is a 3-star hotel located along Balestier Road comprising 241 guest rooms. It opened in April 2011 and is believed to be Singapore's second international economy hotel. It is believed that the IBIS Novena will be included in the assets to be listed in the hospitality REIT sponsored by the Purchaser in the second half of 2011.
Acted on the corporate aspects of the transaction for Morgan Stanley in the divestment of the whole of its indirect interest in an investment holding company which held four dormitories in Jalan Papan, Woodlands, Kian Teck and Tampines in Singapore. The transaction price for the divestment, which included the sale also of the remaining minority interests, was in the region of about S$380 million.
Acted and led the transaction in the share sale & purchase for the purchaser Norman Winata who incorporated a fund for the acquisition of One Finlayson Green at a purchase price of S$145 million.
Acted for Asdew Acquisitions Pte Ltd in its acquisition of the Citadel Investment Group's 75% share capital in Grange Properties Pte Ltd at a confidential purchase price. Grange Properties is developing Grange Infinite, a 68-unit freehold condominium development, in Orchard Road.
Acted as Singapore counsel to AIG, advising it on Singapore regulatory and competition issues relating to the proposed sale of its Asian life insurance arm to Britain's Prudential for S$50 billion. Previously advised AIG on regulatory issues relating to its exit from the Federal Reserve funding.
