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Top Global to acquire additional 32.5% stake in hostel chain for $800,000

Property

Top Global to acquire additional 32.5% stake in hostel chain for $800,000

Stanislaus Jude Chan Published on Mon, Dec 11, 2017 / 5:43 PM GMT+8

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SINGAPORE (Dec 11): Top Global’s wholly-owned subsidiary Top Global Hospitality has entered into a sale and purchase agreement to acquire an additional 32.5% stake in hostel chain 5Footway Founders for $800,000.

This brings Top Global’s total stake in 5Footway to 83.75%.

5Footway is in the business of hospitality management that includes its own hostel chain and the management of other hostels, hotels and serviced apartments across China, Japan and Singapore.