Sinarmas Land Limited to dispose of Horseferry Property Limited for $415.1m

It will be sold to LTH Property Holdings 3 Limited.

Sinarmas Land Limited has proposed to dispose of its wholly-owned subsidiary in Guernsey, Horseferry Property Limited for $415.1m (£247.m).

The Horseferry Property Limited will be sold and purchased through an agreement entered by Sinarmas' other subsidiary, SML Victoria Limited, and LTH Property Holdings 3 Limited.

Upon signing the sale agreement, LTH property paid a cash deposit of 20% of the price consideration. The remaining balance will be payable upon the expected completion of the deal in early August.

After disposal, Sinarmas expects to realise an "attractive rate of return on its investment."

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