OLS to acquire M'sian Phosphate Additives in S$300m RTO deal
One of the vendors, MTDC, is wholly owned by Khazanah Nasional
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Singapore
OLS Enterprise, an investment holding company on the Singapore Exchange (SGX) watch-list, on Wednesday announced plans to acquire Malaysian Phosphate Additives (MPA) via a S$300 million reverse takeover (RTO) deal. This comes less than a week after the company announced plans to transfer from SGX's mainboard to the Catalist board.
The company said on Wednesday that it had on May 22 entered into a term sheet with the vendors - Malaysia Technology Development Corporation (MTDC), Right Earth, Casa Lite and Lim Lee Wan - to acquire the entire issued and paid-up shares of MPA, which manufactures and markets two phosphate ingredients used in producing nutritional feed for livestock and fertilisers.
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