Rubicon Law is pleased to announce that it has acted as deal counsel to the founder and shareholders of Wan Wang (2000) Pte Ltd (“Wan Wang”) in the sale of their majority stake in Wan Wang to Sun Venture, a multi-asset investment firm with interests spanning real estate, private equity, fund of funds, public equities, fixed income and alternatives.
Wan Wang is a leading operator of factory-converted worker dormitories (“FCDs”) in Singapore. Since its establishment more than two decades ago, it has built a strong track record of converting industrial properties into quality accommodation for Singapore’s foreign workforce.
With Sun Venture’s backing, Wan Wang intends to grow its FCD portfolio, raise living standards for foreign workers and reinforce its position as a leading FCD operator in Singapore. Foreign workers are central to Singapore’s growth and development, and this investment underscores Sun Venture’s commitment to improving living conditions for this vital segment of the workforce.
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