Latham Advises Tokyo Century Corporation on Acquisition of Crowne Plaza Changi Airport Hotel, in Joint Venture With OUE Limited

Latham & Watkins has advised Tokyo Century Corporation (TC), a leading Japanese non-banking financial services company listed on the Tokyo Stock Exchange, on a joint venture with leading Singapore real estate and healthcare group OUE Limited to jointly acquire the Crowne Plaza Changi Airport, a 575-room hotel located at Terminal 3 of Singapore Changi Airport, for an acquisition price of S$500 million. Salter Brothers, a leading Australian alternative investment fund manager, acted as an adviser and investment manager to TC.

The transaction marks the second collaboration project between TC and OUE, with Latham having previously advised on the joint venture between TC (with Salter Brothers acting as TC’s investment manager) and OUE to develop Hotel Indigo Changi Airport, a new hotel at Singapore Changi Airport’s Terminal 2.

The Latham team was led by Singapore corporate partner Michael Rackham, with associates Yiheng Luo and Jen Whee Lee. Advice was also provided on financing matters by Singapore partner Don Stokes, with associate Wonhyong Lee; on tax matters by London partner Simon Skinner, with associate Abi Abbott; and on antitrust matters by Paris partner Adrien Giraud, with associate Louis-Victor Sachs.