YTL REIT to buy Ma­jes­tic Ho­tel

New Straits Times - - Business / News -

KUALA LUMPUR: Pin­tar Pro­jek Sdn Bhd, the man­ager of YTL Hos­pi­tal­ity REIT (YTL REIT), has en­tered into a con­di­tional sale and pur­chase agree­ment with YTL Ma­jes­tic Ho­tel Sdn Bhd to ac­quire Ma­jes­tic Ho­tel Kuala Lumpur for RM380 mil­lion. YTL Ma­jes­tic is the in­di­rect sub­sidiary of YTL Corp Bhd. “May­bank Trus­tees Bhd, the trustee of YTL REIT, will sub-lease the prop­erty to YTL Ma­jes­tic Ho­tel upon the com­ple­tion of the pro­posed ac­qui­si­tion un­der a sub-lease agree­ment for 15 years, with an op­tion granted to the ven­dor to re­new for a fur­ther 15 years,” said YTL REIT. Bernama

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