M&A

Teckwah acquires Profoto Digital Services for $13 mil
SINGAPORE (Apr 1): Teckwah Industrial Corporation announced that it is acquiring Profoto Digital Services (PDS) from two individuals – Johnny Pranata and Lock Hui Soon – for a consideration of $13.0 million. PDS is in the business of providing digital graphic prints, event set-ups, window display and project management services. Its customers are mainly in the fashion and beauty industry, ...
ST Engineering acquires satcom company Newtec for $383 mil
SINGAPORE (Mar 28): ST Engineering is acquiring Newtec Group NV, a Belgium-based satellite communications (satcom) company, for 250 million euros ($383 million). In a Wednesday filing, ST Engineering says the acquisition is complementary and synergistic as it currently offers a suite of satcom solutions to provide seamless global network and bandwidth management with end-to-end ...
SGX buys 20% stake in FX trading platform for US$25 mil
SINGAPORE (March 27): As part of its efforts to strengthen its multi-asset exchange strategy, the Singapore Exchange has acquired a 20% stake in BidFX for US$25 million ($33.8 miillion) in cash. BidFX is a cloud-based provider of electronic foreign exchange trading platform. It offers a cloud-based, front-end trading platform that supports FX spot, swaps and forwards for G10 and Asian ...
Tatas, GIC, SSG to invest $1.6 bil in India's GMR Airports
SINGAPORE (Mar 27): A consortium of India’s Tata Group, a unit of Singapore’s sovereign wealth fund GIC and SSG Capital Management will invest 80 billion rupees ($1.57 billion) to buy a stake in GMR Airports, which runs India’s biggest airport. The deal will pump 10 billion rupees into GMR Airports, a unit of GMR Infrastructure and purchase 70 billion rupees of the airport unit’s ...
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 ...