SPH sells 5.29% stake in AXA Tower

Submitted By:  Staff Reporter Case Study:  No Investors entered into a share purchase agreement with Alibaba Singapore. Singapore Press Holdings (SPH) will divest its 5.29% stake in AXA Tower for approximately $33.2m through its wholly-owned subsidiary PE One, according to an announcement. SPH, Perennial Real Estate Holdings, and a consortium of investors have entered into a share purchase agreement with Alibaba Group subsidiary, Alibaba Singapore, for the sale of 50% stake in AXA Tower and the transfer of 50% of an outstanding shareholders’ loan. read more