Singapore Exchange (SGX) mainboard-listed First Sponsor Group Limited is pleased to announce that the Group, in partnership with its two key shareholders, City Developments Limited and Tai Tak Estates Sendirian Berhad, has through a joint venture partnership on 6 December 2017 entered into a sale and purchase agreement for the proposed acquisition of the Le Méridien Frankfurt Hotel in Germany. The expected total consideration for this Acquisition is €85.0 million (S$135.9 million) including transaction costs.

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