V2Y Corp. (SGX:V2Y) has signed a deal to acquire a 60% stake in Abila, a Singapore-based operator of coffee shops, from Lim Weng Chuan for SG$540,000, according to a Tuesday filing on the Singapore Exchange.

The agreement includes an option to purchase the remaining 40%, the filing said.

Abila manages two coffee shops and licenses a third, with favorable lease renewal terms that mitigate rising rental costs. The deal will be settled via the issuance of 36 million new shares in the company to the vendor at SG$0.015 per share.

The acquisition aligns with V2Y's strategy to diversify into the food and beverage sector, leveraging Abila's operations to expand its market presence.