Natural Cool Holdings (SGX:5IF) increased its equity interest in iFocus to 80% following the completion of the first tranche of its investment in the subsidiary, according to a Thursday filing with the Singapore Exchange.
The second tranche will be effected on or before Aug. 31.
In an earlier filing, the company had agreed to acquire the remaining 49% stake it does not own in engineering services provider iFocus from its shareholders, Ng Choon Tiong and Kuo Wen Siang, in two tranches for a total consideration of SG$2.9 million.
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