acquisitions

Manulife US REIT acquires Virginia asset for US$122 mil; proposes US$94 mil private placement to fund deal
SINGAPORE (April 29): Manulife US REIT has agreed to acquire a freehold 11-storey Class ‘A’ office asset at the Washington Metropolitan area in Fairfax, Virginia, for a consideration of US$122 million ($166.1 million) from Carr Properties. Comprising two towers dubbed Centrepointe I and II, the property is located along 4000 and 4050 Legato Road and features a total net lettable area (NLA) ...
Keppel asset management unit acquires 3 commercial buildings in Seoul for $510 mil
SINGAPORE (April 29): Keppel Capital Holdings, the asset management arm of Keppel Corporation Limited, says its Alpha Asia Macro Trends Fund III (AAMTF III) is acquiring 100% stakes in three Grade ‘A’ freehold commercial buildings in Seoul, Korea, for a total of KRW 430 billion ($510 million). The portfolio of three commercial buildings comprises Yeouido Finance Tower at the Yeouido ...
Global Invacom cancels $280 mil acquisition of Tactilis due to 'difficulties' meeting agreement terms
SINGAPORE (April 22): Global Invacom, has cancelled its proposed US$200 million ($280 million) acquisition of Tactilis due to “difficulties in fulfilling all of the conditions precedent” in the sale purchase agreement (SPA) it signed with the vendor last year. With the termination also comes the cessation of 5% coupon-rate convertible notes meant to be issued by Tactilus. At the same ...
United Industrial Corp raises stake in Marina Centre to 77.34% with $675.3 million deal
SINGAPORE (April 13): United Industrial Corporation (UIC), a subsidiary of UOL Group, is acquiring a further 24.27% stake in its 53.07%-owned indirect subsidiary Marina Centre Private Holdings (MCH) for $485.3 million to be paid in cash. 10%, 10.27% and 4% of the sale shares will be purchased from vendors OUE Limited, Finnegan Investments Limited, and Mackmoor Pte Ltd for $200 million, $205.3 ...
Singapore Myanmar Investco's sale of TPR Myanmar crumbles over unmet terms
SINGAPORE (April 8): Singapore Myanmar Invesco’s (SMI) intended sale of its telecommunication infrastructure subsidiary, TPR Myanmar, to Tiger Infrastructure for US$10.8 million ($14.4 million) has fallen through after the latter failed to fulfil terms of the sale share agreement (SSA) . This comes following an extension of the long-stop date to March 31 this year, by which SMI says Tiger ...
Grab sets sights on US$6.5 bil capital mark
SINGAPORE (April 8): Grab Holdings is expecting to rake in further US$2 billion ($2.71 billion) in funding to bring its total capital raised this year to US$6.5 billion, following its Series H round which saw SoftBank and other key strategic investors invest over US$4.5 billion in the ride-hailing app. Last month, Grab secured a US$1.46 billion investment from SoftBank Vision Fund. Both Grab ...
MindChamps acquires 8 more Sydney preschool centres for $39.3 mil
SINGAPORE (Apr 8): MindChamps Preschool Limited is acquiring eight more early learning centres in Sydney, Australia, for a total of A$40.84 million ($39.3 million) from Malek Family Pte Ltd and Malek Group Investments Pty Ltd. The centres are located across six suburbs of the city, namely: Mascot, Parramatta, Albion Park, West Hoxton, Kemps Creek and Shellharbour. See: MindChamps 2Q ...
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 ...
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 ...
Wilmar in US$275 mil takeover deal to fully acquire food company Goodman Fielder
SINGAPORE (Mar 11): Wilmar International is acquiring the remaining 50% stake in FPW Singapore Holdings it does not already own from Oceanica Developments for US$180 million ($244.55 million). FPW Singapore Holdings indirectly wholly owns Goodman Fielder and its companies which manufacture, market, and distribute food ingredients and consumer branded food, beverage and related ...