Hotel Tycoon Ong Beng Seng, Temasek Offer To Buy Singapore Press In Deal Valued At $2.5 Billion

Hotel Tycoon Ong Beng Seng, Temasek Offer To Buy Singapore Press In Deal Valued At $2.5 Billion

Shoppers and pedestrians walk past the Paragon shopping mall on Orchard Road in Singapore. The ... [+] property is the crown jewel in Singapore Press Holdings' non-media assets.

Temasek and Hotel Properties—controlled by billionaire Ong Beng Seng and wife Christina Ong—have teamed up to acquire the commercial properties held by Singapore Press Holdings for about S$$3.4 billion ($2.5 billion) in an all-cash bid that tops a recent offer from Keppel Corp.