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Far East Consortium buys Europe casino and hotel operator

Hong Kong-listed Far East Consortium International announced on Monday that its U.S. unit will be purchasing and subsequently merging with Trans World Corporation, a company in the hospitality and gaming business in Europe.

The deal will see Far East Consortium purchasing Trans World Corp for $42 million. After which point, Trans World will become the surviving entity and become a wholly owned subsidiary of FEC OIL, while FEC Investment (US) will cease to exist as a legal entity.

Trans World Corporation, organized as a Nevada corporation in 1993, currently owns and operates three casinos and five hotels in Germany, Austria and the Czech Republic.

Far East Consortium is an international property development company which commenced operations in Australia in 1994.

It has been most recently known for its involvement in the Queen’s Wharf Brisbane Project - a proposed integrated resort developed by The Star Entertainment Group, Far East Consortium (Australia) and Chow Tai Fook Enterprises.

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