FEC and Its Consortium Partners Completed Acquisition of Sheraton Grand Mirage Resort at the Gold Coast

Far East Consortium International Limited | February 6, 2017

HONG KONG, Feb. 6, 2017 - Far East Consortium International Limited ("FEC" or the "Group"; SEHK: 35) is pleased to announce that it has completed the acquisition of the Sheraton Grand Mirage Resort at the Gold Coast, Australia, together with its pre-eminent international partners, The Star Entertainment Group Limited and Chow Tai Fook Enterprises Limited. The acquisition is financed by a combination of bank loan and equity from the respective partners. The Group's equity contribution for the acquisition is approximately A$20m, and the Group will have 25% interest in the joint venture. Sheraton Grand Mirage is an ...