First Sponsor unit selling stake in Dutch hotel

A 31.4 per cent owned associate of First Sponsor Group is selling its stake in Dutch hotel Bilderberg Landgoed Lauswolt for €6.88 million (S$10.8 million).

First Sponsor's associate Queens Bilderberg (Nederland) had on June 9 reached an agreement to sell its stake in Landgoed Lauswolt - which owns the hotel - to Landgoed Oranjewoud Participaties.

The announcement was made by First Sponsor yesterday before the market opened.

Bilderberg Landgoed Lauswolt is a 65-room five-star hotel in Beetsterzwaag, the Netherlands.

The hotel sits on a parcel of freehold land with a total gross floor area of about 6,815 sq m. It is operated by Hotel Opco.

Upon completion of the disposal, Landgoed Lauswolt and its wholly owned subsidiary, Hotel-Restaurant Lauswolt, will cease to be associated companies of First Sponsor.

Bilderberg Landgoed Lauswolt is a 65-room five-star hotel in Beetsterzwaag, the Netherlands. The hotel sits on a parcel of freehold land with a total gross floor area of about 6,815 sq m.

First Sponsor shares closed at $1.27 last Friday. There were no trades yesterday.

A version of this article appeared in the print edition of The Straits Times on June 12, 2018, with the headline 'First Sponsor unit selling stake in Dutch hotel'. Print Edition | Subscribe