SINGAPORE (Yosefardi) – Overseas Union Enterprises (OUE) Ltd, a company controlled by Lippo Group, has completed the acquisition of US Bank Tower and related properties in downtown Los Angeles, USA.
OUE acquired the property from Library Square Associates LLC, a subsidiary of MPG Office Trust Inc, through US subsidiary Beringia Central LLC.
As reported earlier, Lippo paid US$367.5 million for the property.
OUE shares, meanwhile, opened flat at S$2.87 on the Singapore Exchange (SGX) this morning. The stock rallied from S$2.04 last year to as high as S$3.2 last month, but then retreated to S$2.87 this morning.