TCC Group, which controls a majority of Frasers Hospitality Trust’s shares, is seeking a $500 million loan to take the Singapore-listed company private, according to people with knowledge of the matter.
The conglomerate of Thailand’s richest man, Charoen Sirivadhanabhakdi, is talking to banks about the planned transaction to finance the deal, said the people, who asked not to be identified as the process is private.
An announcement on the potential buyout could come as early as this week, the people said.
Deliberations are ongoing and the shareholder could decide not to proceed with the transaction.
A representative for Frasers Hospitality Trust declined to comment, while TCC Group didn’t immediately respond to requests for comment.
Trading in shares of Frasers Hospitality Trust and parent company Frasers Property were halted Thursday.
