SATS (SGX:S58) said Mitsui & Co. (TYO:8031) completed its acquisition of a 15% stake in SATS-Mit Food Solutions, previously known as Food Solutions Sapphire Holdings, according to a Friday filing with the Singapore Exchange.
The transaction, part of a July agreement, involved the partial equity divestment by SATS Investments Pte. Ltd. (SIPL) to Mitsui.
Alongside the equity transfer, agreements for loan novations and bond subscriptions were finalized, with Mitsui making cash payments for the equity and associated agreements.
Further payments for additional bonds will be made upon their subscription, SATS said in a statement.
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