Chaswood inks term sheet with battery firm for potential US$1b reverse takeover

MALAYSIAN restaurant operator Chaswood Resources Holdings has signed a non-binding term sheet for its proposed acquisition of battery maker 3DOM (Singapore) Pte Ltd (3PL), with an indicative price tag of at least US$1 billion.

If undertaken and completed, the transaction is expected to result in a reverse takeover of Chaswood, the Catalist-listed firm said on Sunday.

Japan-based 3DOM Inc, which wholly owns 3PL, will become Chaswood's largest shareholder upon the deal's completion.