Under the deal, IOI Properties will buy CDL’s 50.1% stake in South Beach in a deal valuing the the property at S$2.75 billion ($2.1 billion).

An oil spill affecting Singapore has spread beyond a luxury beach resort to a marine reserve and other parts of the island nation as authorities intensify cleanup efforts. The oil spilled into the ...

Under the deal, IOI Properties will buy CDL’s 50.1% stake in South Beach in a deal valuing the property at S$2.75 billion ($2.1 billion).