Riady offer for Auric 'fair and reasonable', says adviser

Singapore

INDEPENDENT financial adviser (IFA) MS Corporate Finance has advised independent directors that the Riady family's offer to take Sunshine bread maker Auric Pacific Group private is "fair and reasonable".

Accordingly, it has advised the recommending directors to ask shareholders to either accept the offer or sell their shares in the open market, if they can obtain a higher price after deducting transaction and related expenses.