Central Plaza Hotel Public Company Limited (SET: CENTEL) has officially announced the completion of a significant asset disposal in Japan involving the Centara Grand Osaka property. The transaction was executed through its joint venture, Centara Osaka Tokutei Mokutei Kaisha (Centara TMK), in which CENTEL holds a 53% stake.
The divestment, finalized today, involved the sale of leasehold rights, the hotel building, and all furniture, fixtures, and equipment (FF&E) to Osaka Namba Investors Godo Kaisha. The deal was structured by establishing a trust to hold the assets, followed by the sale of trust beneficiary rights to the buyer.
The total consideration for the sale reached Japanese Yen 38,500 million, equivalent to approximately Thai Baht 8,008 million. This represents a substantial premium over the assets’ book value of approximately Thai Baht 4,695 million recorded at the end of 2025.
CENTEL intends to utilize the proceeds to settle transaction-related expenses, repay outstanding loans, and return capital to the shareholders of Centara TMK. Following the payment of dividends and fund returns, the joint venture will proceed with liquidation.
While the asset ownership has changed, the day-to-day operations of the hotel will remain under CENTEL’s umbrella. Centara Osaka Japan Kabushiki Kaisha (Centara KK), a wholly-owned subsidiary of CENTEL, remains the lessee and will continue to operate Centara Grand Osaka in accordance with its lease agreement.
The company confirmed that this transaction does not constitute a related party transaction and meets all regulatory compliance standards for listed companies.
