14 Oct 2014
Acquisition of Orchardgateway Private Limited and Orchardgateway Link Private Limited
Rajah & Tann Singapore LLP acted for Oversea-Chinese Banking Corporation Limited in the acquisition by its wholly-owned subsidiary, Specialists’ Centre Private Limited, of the entire issued share capital and outstanding shareholder’s loans in Orchardgateway Private Limited (formerly known as UE Orchard Pte. Ltd.) and Orchardgateway Link Private Limited (formerly known as UE Somerset Pte. Ltd.). The aggregate value of the deal is approximately S$350 million. The acquisition was completed on 30 September 2014.
Orchardgateway Private Limited and Orchardgateway Link Private Limited are entities which have undertaken the redevelopment works for the mixed-use development project at Orchard Road, namely orchardgateway, which includes the retail mall and hotel located at 277 Orchard Road and the glass overhead bridge and underground pass linking orchardgateway to 218 Orchard Road.
Partners Goh Kian Hwee and Cheng Yoke Ping, and associates Alison Foo and Koh Choon Yee from Capital Markets / M&A Practice were the lawyers involved in this deal.