Frasers Hospitality Trust in talks over potential sale of Sofitel Sydney Wentworth

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Frasers Hospitality Trust said Monday it is in talks with unnamed parties over a potential sale of the Sofitel Sydney Wentworth.

That was in response to a weekend article in The Australian that said Singapore-based Royal Group Holdings was in exclusive due diligence talks to acquire the hotel.

“While the managers are in discussions with parties in relation to Sofitel Sydney Wentworth, there is no certainty or assurance whatsoever that any transaction will arise from these discussions,” the trust said.

The trust added, however, that its managers are constantly assessing strategic options.

“In connection with such plans, the managers will, from time to time, engage advisers and/or brokers to evaluate these opportunities and engage in confidential discussions with one or more parties on potential divestments,” Frasers Hospitality Trust said.

The trust advised unitholders to refrain from taking actions which may be prejudicial to their interests and to expercise caution.

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