Lum Chang unit completes sale of interest in subsidiaries

SINGAPORE - Lum Chang Orion, a unit of Lum Chang Holdings, has completed the disposal of interest in two subsidiaries, the company said on Monday.

Lum Chang Orion had on Friday sold 11.4 million shares in Pembridge Palace Holdco (PPHL) to ITC Investment & Technology Group Companies. PPHL, through its unit Pembridge Palace Propco Limited, owns the freehold interest in a London hotel.

Following the completion of the sale, PPHL and Pembridge Palace Propco Limited are no longer subsidiaries of Lum Chang Orion and Lum Chang Holdings.