St James gets SGX nod for RTO deal

ST JAMES Holdings has received in-principle approval from the Singapore Exchange for its reverse takeover deal with Perennial Real Estate Holdings. The deal, first announced in March this year, will see Perennial's real estate assets injected into St James, which will divest its original entertainment business to CityBar Holdings. Sellers of the Perennial assets will also see their moratorium period adjusted, St James said on Monday. St James will convene an EGM to seek shareholders' approval for the deal.

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