Advancer Global Enters Definitive Agreement to Dispose Off Stake in G3 Environmental

MT Newswires

2024-10-17

Advancer Global (SGX:43Q) and related parties have entered into a definitive sale and purchase agreement for the sale of 100% stake in G3 Environmental, according to a filing with the Singapore Exchange on Wednesday.

The company's wholly owned subsidiary, Advancer Global Facility, together with British Virgin Islands-incorporated Kenmoore Mezzanine Investments, and TEE International (SGX:M1Z) unit Tee Infrastructure, had accepted a binding offer from Re Sustainability in August this year to sell 100% stake in G3 Environmental for around SG$22.0 million.

Advancer Global Facility holds a 20.10% stake in G3 Environmental, which is involved in waste collection and recycling of metal waste and scrap. Kenmoore holds a 29.80%, while the remaining 50.10% is held by Tee Infrastructure.

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