Coliwoo to Sell Entire Interests in Coliwoo RV1 and Coliwoo RV2 for SG$45.5 Million
MT Newswires
Yesterday
Coliwoo (SGX:W8W) agreed to sell its entire interests in Coliwoo RV1 and Coliwoo RV2, for a base consideration of SG$45.5 million, according to a Wednesday filing.
Coliwoo RV1 and Coliwoo RV2 own properties at 298 and 288 River Valley Road, Singapore.
The transaction includes a three-year leaseback, allowing Coliwoo to continue operating the properties under the Coliwoo brand.
Coliwoo expects to receive estimated net proceeds of about S$18.7 million after debt repayment, transaction expenses and other adjustments.
Proceeds will be used for general corporate and working capital purposes, including debt reduction, it said.
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