In a recent transaction, Harry Elias Partnership LLP acted for an indirect wholly–owned subsidiary of Guthrie GTS Limited in the acquisition of a key investment asset, a 7-storey commercial building located in the central business district of Singapore, with a total gross floor area of over 200,000 square feet. The building comprises an office tower atop a retail podium on the basement and car park. The acquisition was structured through multi-tiered special purpose vehicles with the acquisition of shares and debt restructuring, spanning cross border issues involving various jurisdictions. Guthrie GTS is a company listed on the mainboard of the Singapore Exchange Securities Trading Limited with three key businesses in property, engineering and leisure. The Seller is a real estate Cayman-based fund focused in Asia, acting through its general partners. The consideration of approximately S$168 million for the share acquisition will be funded via internal funds and was arrived at on a willing-buyer and willing-seller basis.
