Australian operator The Star announced an agreement with its joint venture partners to sell its stake in Queen’s Wharf Brisbane. The Star confirmed signing binding agreements with Chow Tai Fook Enterprises (CTFE) and Far East Consortium (FEC) to sell its stake in Destination Brisbane Consortium (DBC) in a filing on Tuesday. The company also stated
Australian operator The Star announced an agreement with its joint venture partners to sell its stake in Queen’s Wharf Brisbane.
The Star confirmed signing binding agreements with Chow Tai Fook Enterprises (CTFE) and Far East Consortium (FEC) to sell its stake in Destination Brisbane Consortium (DBC) in a filing on Tuesday.
The company also stated it will step back from managing The Star Brisbane Integrated Resort, with operations to be handed over to a replacement operator.
Chow Tai Fook Enterprises (CTFE) and Far East Consortium (FEC) have previously been reported to have been in discussions with both Crown Resorts and SkyCity in the possible appointment of one of them as the future operator of The Star Brisbane Integrated Resort. These talks were seen as part of the planning process to ensure a smooth transition in management once The Star exits its role.