Lian Beng (Tai Seng), a 75%-owned subsidiary of the Lian Beng Group, has exercised the call option under the put and call option agreement that it entered with the BreadTalk Group for the proposed acquisition of the BreadTalk IHQ building.

See: Lian Beng-led consortium buys BreadTalk HQ for $118 mil

Upon the exercise of the call option, the companies have effectively entered into a binding contract for the sale and purchase of the property.

Shares in Lian Beng closed flat at 46 cents on March 5.