Far East Consortium sells Perth Ritz-Carlton stake for $515m

An instalment of $103.45m (A$20m) has already been paid by Generation Essentials Group to Far East Consortium.

Far East Consortium International Limited has agreed to sell its stake in the Ritz Carlton Hotel, in Perth, Australia, to the Generation Essentials Group for $515m (A$100m).

Under the agreement, the Generation Essentials Group will purchase the shares and take assignment of the sale loan, subject to the terms and conditions.

An instalment of $103.45m (A$20m) has already been paid by Generation Essentials Group to Far East Consortium.

Generation Essentials Group will also pay a sum of $206.89m (A$40m) on 29 December. The remaining balance will then be paid in four instalments, with the last payment expected by the end of 2027.