S$1.58 billion acquisition of DUO Tower and DUO Galleria via purchase of shares in Ophir-Rochor Commercial Pte. Ltd. by Allianz Finance VII Luxembourg S.A. and Gaw Capital Partners, and joint venture in connection with Ophir-Rochor Commercial Pte. Ltd.

A&G News 19 August 2019

Allen & Gledhill is advising Allianz Finance VII Luxembourg S.A. (“Allianz”) on the S$1.58 billion joint acquisition with Gaw Capital Partners (“Gaw Capital”) of DUO Tower and DUO Galleria, a mixed-use development in Singapore, via the purchase of all the shares in Ophir-Rochor Commercial Pte. Ltd. (“Ophir-Rochor”, which is the owner of DUO Tower and DUO Galleria) from Ophir-Rochor Investments Pte. Ltd..

It is intended that Allianz shall hold 60 per cent. of the shares in Ophir-Rochor, while Gaw Capital will hold the remaining 40 per cent.

On completion of the transaction, Allianz and Gaw Capital will also enter into a shareholders agreement to govern their relationship as shareholders of Ophir-Rochor.

Advising Allianz are Allen & Gledhill Partners Richard Young, Lauren Chung, Ko Xiaozheng, Ho Kin San, Lim Mei Ann and Aloysius Ng.