Far East Consortium Won’t Proceed With Eagles Trust Stake

July 27, 2020 — Eagle Hospitality REIT Management announced that no definitive agreement has been signed in respect of the Far East Consortium International Limited (FECIL) Transaction to date and the Managers and the REIT Trustee have been informed by FECIL that it will not be proceeding with the Transaction.

The Managers have been further informed by the REIT Trustee that the REIT Trustee is considering all options in the interests of the Stapled Securityholders and has instructed and directed Moelis (in its capacity as financial adviser to the REIT Trustee) to commence an RFP process to seek proposals for EHT, on an expedited basis, from interested parties (the “Proposed Transactions”).

Read full statement here

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