Wednesday, July 06, 2022

Ascott Acquires Oakwood Worldwide To Fast-track Growth To Over 150,000 Units Globally

CapitaLand Investment Limited’s (CLI) wholly owned lodging business unit, The Ascott Limited (Ascott) announced it is acquiring Oakwood Worldwide (Oakwood), a premier global serviced apartment provider, from Mapletree Investments Pte Ltd. 

The acquisition increases Ascott’s global portfolio by 81 properties and about 15,000 units. Oakwood’s approximately 8,500 operational units are expected to immediately contribute to Ascott’s recurring fee income streams upon completion of the transaction slated in 3Q 2022. 

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EU: The Economic and Monetary Affairs Committee on June 23 adopted its position on the single currency package

The digital euro would offer citizens and businesses a private, secure and innovative way to pay, while reducing reliance on non-EU provider...