Sovereign Fund's Uncontested $1.5B Bid Lands It MSR Assets

Law360, New York (December 6, 2012, 5:44 PM EST) -- A Singapore sovereign wealth fund has emerged as the winning bidder for MSR Resort Golf Course LLC after no competing bidders came forward to best its $1.5 billion stalking horse bid for the company’s five-resort portfolio, according to court documents filed in New York federal bankruptcy court Wednesday.

No competing bids emerged before MSR’s Dec. 3 bid deadline, meaning  Government of Singapore Investment Corp. (Realty) Private Ltd.’s $1.5 billion offer is now the winning bid, according to a notice filed by MSR on Wednesday.

“The stalking...
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