Boustead Singapore (SGX:F9D) through its subsidiaries, BP Unity and BP-Real Estate Investments, agreed to dispose of certain fund and property management businesses of the group to UI Holdings, according to a late Wednesday filing.
As a consideration, UI Holdings will issue 35,505,812 new shares worth $78.6 million to Boustead Singapore, resulting in Boustead Singapore acquiring a 24.1% stake in UH Holdings.
Under the agreement, Boustead Singapore will also sell its 50% stake in Echo Base-BP Capital (Vietnam) to UI Holdings, a private real estate investor and fund manager.
In addition, the two parties will also discuss the potential sale of 3% of KTG & Boustead Industrial Logistics to UI Holdings for $2.3 million.
Furthermore, a Boustead Singapore unit will make a capital commitment of at least $11.6 million in UH Holdings.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.