Billionaire Charoen Sirivadhanabhakdi’s TCC Group is seeking a S$500 million (1.25 billion baht) loan to take Singapore-listed Frasers Hospitality Trust private, according to people with knowledge of the matter.
The conglomerate, which controls a majority of shares in both Frasers Hospitality and its parent, Frasers Property Ltd, is in talks with banks about a potential transaction to finance the deal, said the people. An announcement about the proposed buyout could be made as early as this week, they said, asking not to be identified as the process is private.
