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UIC buying Marina Mandarin and parts of Marina Sq complex

S$675.3m deal puts UIC and parent UOL in charge of hotel and Marina Square Shopping Mall as well as Pan Pacific hotel; UIC to fund purchases with mix of internal resources and bank loans

Annabeth Leow

Published Sun, Apr 14, 2019 · 09:50 PM

United Industrial Corp

Singapore

THE Marina Mandarin Singapore and parts of the Marina Square complex are changing hands for S$675.3 million, in a deal inked last Friday.

United Industrial Corp (UIC) is buying out Finnegan Investments and Mackmoor, as well as mainboard-listed OUE. The Marina Square shopping centre will then be owned jointly by UIC and its parent, UOL Group.

UIC is ponying up to raise its subsidiary's interest in Marina Centre Holdings and Aquamarina Hotel, the Marina Mandarin Hotel's holding com…

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