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MMP Resources to acquire Hokkaido ski operator
MMP Resources, formerly Sino Construction, is planning to acquire Hokkaido ski operator JRT Trading for 80 million yen (S$1.05 million) in cash.
On top of that, it will repay over two years a 37.5 million yen loan that JRT Trading owes.
The group said on Monday that it has entered into a non-binding heads of agreement with the vendor, Clayton Anthony Kernaghan, on the deal.
JRT Trading manages a ski lodge, a Hokkaido tour business and a rental business based in Higashiyama, a town in Niseko Abuta District, Shiribeshi sub-prefecture in Hokkaido, Japan. Its main operations are the running of the Black Diamond tours, Hokkaido back-country club, Black Diamond Lodge and Chisenupuri Ski Area leases.
MMP said the acquisition is in line with its strategy to focus on construction opportunities, asset acquisitions and brand growth in tier one markets, with a specific focus on the travel, hospitality and leisure industry.