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Wing Tai unit disposing of Winnamax Investment for S$270.8m

Wednesday, June 7, 2017 - 08:50

WING Tai Holdings' wholly owned subsidiary, Wing Tai China, has entered into a deal to dispose of its 100 per cent interest in the issued share capital of and shareholders' loans to Winnamax Investment.

The deal, worth S$270.8 million, was agreed with Xu Chang Co, the group said in a filing to the local bourse.

The transaction is expected to take place within three months from the signing date of the agreement.

Upon completion, Winnamax will cease to be a subsidiary of Wing Tai Holdings.

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