M&A

New Silkroutes Group sells oil trading division for US$10 million
SINGAPORE (Mar 25): New Silkroutes Group has sold its entire stake in its oil trading division International Energy Group (IEG) to TK Energy for US$10 million ($13.5 million) in cash. TK Energy is a private limited company incorporated in Hong Kong formed by stakeholders with interests in the oil and gas sector. The disposal is expected to result in a gain of approximately US$10 million for ...
MindChamps acquires Punggol Northshore centre for $3.8 mil
SINGAPORE (Mar 22): MindChamps PreSchool’s Singapore subsidiary is fully acquiring MindChamps PreSchool @ Punggol Northshore from the centre’s owner, known as Chen Han, for a total consideration of $3.79 million. In a filing on Friday, MindChamps PreSchool says the latest acquisition comes in line with its plans to expand its business. The transaction will be funded with a combination ...
Frasers Property and FCT raise stakes in PGIM Asia retail property fund for $635 mil
SINGAPORE (Mar 25): Frasers Property Limited and Frasers Centrepoint Trust (FCT) are raising their stakes in PGIM Real Estate Asia Retail Fund for $635 mil in total. Frasers Property, which is also the sponsor of FCT, says the investments are line with the group's strategy to grow recurring income sources in one of the group’s key asset classes. The assets owned by PGIM Real Estate Asia ...
Cache Logistics Trust acquires logistics warehouse and office facility in Australia for $42.6 mil
SINGAPORE (Mar 20): ARA Trust Management, the manager of Cache Logistics Trust, announced that it has acquired a warehouse and office facility located in Melbourne, Australia for a total consideration of A$44.3 million ($42.6 million), with an initial property yield of 6.8%. This acquisition was made through Cache Logistic Trust’s wholly-owned sub-trust Altonia (VIC) Trust. Located within ...
Oceanus buys majority stake in media & marketing agency for $0.4 mil
SINGAPORE (Mar 20): Seafood supply chain manager Oceanus Group’s subsidiary, Oceanus Investment Holdings, has acquired a majority 51% stake in AP Media for $0.4 million from sole owner and director Tan Guan Cheong. This leaves Tan with a remaining 49% interest in AP Media.   Previously known as Digimatic Creative, AP Media is a media and marketing solutions agency specialising in ...
Novo Tellus investor group is now 29.6% shareholder of Procurri
SINGAPORE (Mar 19): Private equity firm Novo Tellus will become its largest shareholder in Procurri, the SGX-listed provider of IT lifecycle services and data centre equipment. This comes after Novo Tellus PE Fund and co-investor A.C.T Holdings on Monday exercised their respective call options to acquire a total of 36.3 million Procurri shares under a put-call agreement signed on Feb ...
Konnectivity owns 94.55% in M1 at close of offer; will go ahead to compulsorily acquire all other shares and delist telco
SINGAPORE (Mar 19): Konnectivity, the offer vehicle jointly owned by Keppel Corporation and Singapore Press Holdings (SPH), and its concert parties have gained a 94.55% stake in M1 at the close of the voluntary unconditional general offer. Konnectivity will therefore go ahead and exercise its rights to compulsorily acquire all the shares of shareholders who have not accepted the offer at the ...
OUE buys 49.7% stake in F&B player from related Riady investment vehicle
SINGAPORE (Mar 17): OUE, the property group controlled by Stephen Riady, has acquired a 49.7% stake in Superfood Retail for $7.53 million. Superfood Retail is the operator of eateries in Singapore and Hong Kong. The vendor is Silver Creek Capital, an investment vehicle which is owned by Riady and son-in-law Andy Adhiwana. The acquisition price represents a valuation of approximately 6.9 ...
Fabchem China gets 15.8 cents per share offer from 39.55% shareholder
SINGAPORE (Mar 17): Fabchem China, the manufacturer of initiation systems and and detonating cords for explosives, has received a conditional cash offer by shareholder Henry Wee and his wife at 15.8 cents each. The mandatory general offer was triggered after the couple raised their combined stake to 39.55%. The offer is conditional upon the Wees having received, by the close of the offer, ...
Temasek to buy stake in Danish engineering firm for $2 bil
(Mar 13): Singapore state investor Temasek Holdings agreed to buy about 30% of Denmark's Haldor Topsoe A/S, the companies said, in a transaction that a source said values the engineering firm at around US$1.5 billion ($2 billion). As part of the deal, Temasek will subscribe to secondary shares issued by the Topsoe family, which currently owns 100% of the company through Haldor Topsoe Holding ...