Belle seeks $200 million in Sinophil stake sale

Belle Corp is hoping to raise as much as $200 million from the sale of a stake in Sinophil, a separately listed unit spun off earlier this year to hold the company’s gambling assets, the Manila Standard Today reported.
The sale would help improve its liquidity and also widen Sinophil’s public ownership, the newspaper quoted a senior Belle executive as saying.
Belle, which is developing the City of Dreams Manila with Melco Crown Entertainment, on Monday said it has hired CLSA to evaluate a sale.
Belle is the majority shareholder in Sinophil with a 50.42 percent stake.