Fragrance Group Increases Stake In LCD Global Investments To 83%

Fragrance Group announced that its associated company, AF Global, has acquired an additional 28.9 percent stake in LCD Global Investments (LCD) for an aggregate consideration of $74.2 million.

LCD is a public company incorporated in Singapore, and together with its subsidiaries and associated companies, has a presence in Asia and UK, with a portfolio of businesses that include owning and/or managing high-end hotels and serviced residences, and providing real estate consultancy services.

The group believes that this portfolio of geographically diverse businesses will add value to its property business through the increase of its holdings of LCD through AF Global.

Pursuant to the acquisition, AF Global will directly hold in aggregate approximately 83.5 percent of total issued LCD shares.

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