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Quest sells majority stake to Singapore operator

The founders of Quest Apartment Hotels has been advised on the sale of a majority stake to The Ascott Limited.

July 13, 2017 • By Emma Musgrave
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Firms: Clayton Utz (Quest Apartment Hotels); King & Wood Mallesons (Ascott Limited)

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Deal: Quest Apartment Hotels (Quest) has been advised on the sale of a majority stake to The Ascott Limited, a subsidiary of SGX-listed CapitaLand, supporting the expansion of the Quest brand.

 
 

The transaction was announced to the market on 5 July.

Value: $193 million

Area: M&A

Key players: The legal team advising Quest was led by Clayton Utz M&A partner Andrew Walker and senior associate Aimee Nguyen, with assistance from lawyers Tiffany Leach and Chris Fitzgerald.

Deal significance: According to a statement from Clayton Utz, under the terms of the deal, the founders of Quest will sell a 60 per cent stake for cash consideration of $193 million.

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This will effectively increase Ascott’s interest in Quest to 80 per cent, the firm said.

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Emma Musgrave

Emma Musgrave

Author

Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.

Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences. 

Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.

She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University. 

Email Emma on: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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