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Aspial-Fragrance bid for LCD Global turns unconditional

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Potential buyers at the launch of Australia 108, a freehold condo by Aspial Corp unit World Class Land touted to be Melbourne’s tallest building.The bid by AF Global, a joint-venture firm of Aspial Corporation and Fragrance Group, for hospitality and property development player LCD Global Investments has turned unconditional.

THE bid by AF Global, a joint-venture firm of Aspial Corporation and Fragrance Group, for hospitality and property development player LCD Global Investments has turned unconditional.

As at 5pm on Tuesday, AF Global holds and has received valid acceptances representing 59.6 per cent of the maximum potential issued shares of LCD Global. The offer will remain open until 5.30pm on March 12.

Aspial and Fragrance have teamed up in a bid to wrest control of the firm from its biggest shareholder, JTrust Asia, and is offering S$0.33 for each LCD Global share.

Aspial last closed at S$0.39 on Monday, while Fragrance and LCD Global ended trading at S$0.225 and S$0.34 respectively on Tuesday.