Market highlights

1.  First Sponsor has completed the acquisition of the right of leasehold for the third to ninth floors of the Poortgebouw Hoog Catharijne in Utrecht in the Netherlands. The property will be developed into two hotels.

2.  Vibrant Group said yesterday it has spent $10 million from the proceeds of its recent share placement to repay debts, and another $16.56 million from the proceeds on the acquisition of Blackgold International Holdings.

3.  Hotel Properties unit Leisure Ventures is investing US$55 million (S$75.7 million) to acquire a company that owns the Four Seasons Resort Langkawi. The resort is valued at RM400 million (S$128.3 million).

4.  Fragrance Group unit Fragrance Vic-Mel (Collins) has launched its development project in Melbourne, 555 Collins, a 47-floor residential tower with 625 apartments and ground floor retail spaces.

5.  Uber Technologies is retreating from Russia, agreeing to merge with local ride-hailing firm Yandex in a new venture.

A version of this article appeared in the print edition of The Straits Times on July 14, 2017, with the headline 'Market highlights'. Print Edition | Subscribe