Advanced Holdings to pay S$15m for smaller stake in Agricore

Singapore

ADVANCED Holdings announced on Friday morning that it has downsized its acquisition of Agricore Global Pte Ltd from 100 per cent of its share capital to 12.25 per cent, and will pay S$15 million for the minority stake.

The company said it has decided not to conduct a full takeover of palm oil cultivator Agricore in view of commercial considerations, and will continue to focus on its existing core business of providing engineering services and equipment.