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Quek puts up for Thistle

11 August 2005
Quek puts up for Thistle

Thistle Hotels owner BIL International has received a conditional cash offer from High Glory Investments, acting on behalf of Malaysian billionaire-tycoon Quek Leng Chan.

Last month. Quek's Hong Kong-based company Guoco Group increased its stake in Singaporean BIL to more than 30%, triggering a takeover bid.

Quek's bid of S$1.20 (41p) per share values London's biggest hotel group at £550m.

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