Softbank to Buy Baseball Stadium from GIC
25. Mar, 2012
Baseball is a popular sport in Japan and Singapore’s GIC invested capital into an entertainment complex in Fukuoka City a few years ago. Fukuoka City is a major city on the Japanese island of Kyushu. In April 2007, the GIC Real Estate Pte Ltd (GIC RE) acquired Fukuoka Hawks Town from Colony Capital.
Singapore’s GIC is selling the baseball stadium piece to SoftBank Corporation for 87 billion yen (S$1.33 billion). The GIC will still retain ownership of certain parts of the complex including the mall and the Hilton Fukuoka Sea Hawk hotel.
In 2005, the baseball team Fukuoka Hawks was purchased by SoftBank Corporation.
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