Singapore Government Taking Stake in Boutique Hotel Operator

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Singapore Government Taking Stake in Boutique Hotel Operator
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Singapore’s GIC is taking a 25% stake in citizenM, one of a small but growing number of microhotel brands

The sovereign-wealth fund, GIC Pte. Ltd., confirmed the investment but declined to provide financial terms. Its stake brings citizenM’s enterprise value, which includes debt, to €2 billion , the lodging company said.

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