Sing Holdings Limited (SGX:5IC) entered into an agreement to acquire Travelodge Docklands Melbourne Hotel from GL Investment Co Melbourne Pty Ltd for approximately AUD 110 million on October 17, 2016. GL Investment will pay AUD 5.35 million as deposit on signing of agreement and remaining on completion. The transaction is funded by internal resources and bank borrowings. The acquisition is conditional upon obtaining a statement from the Treasurer of the Commonwealth of Australia. The transaction is expected to take place in January 2017. The acquisition is not expected to have a material impact on the consolidated net tangible assets per share and consolidated earnings per share of Sing Holdings for the financial year ending December 31, 2016. Gus Moors, Neil Scanlan and Guy Wells of Colliers International acted as broker in the deal. Sing Holdings Limited (SGX:5IC) completed the acquisition of Travelodge Docklands Melbourne Hotel from GL Investment Co Melbourne Pty Ltd on January 16, 2017.