V2Y Subsidiary to Buy Coffee Shop Business from Urban Exchange; Shares Down 5%

MT Newswires

2024/10/11

V2Y's (SGX:V2Y) subsidiary, Evertrust F&B, entered into an agreement to acquire Urban Exchange's coffee shop business, according to a filing with the Singapore Exchange on Thursday.

The target coffee shop business comprises seven food stalls and one beverage stall.

The aggregate purchase price of the assets is SG$580,000 and will be paid in cash.

Shares of the insur-tech company were down 5% in recent trading.

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