Corporate digest

Straits Trading

PROPERTY firm Straits Trading Company will sell an office building in Australia for about A$161.5 million (S$171.8 million). The building at 114 William Street in Melbourne will be sold to AFIAA Australia 4 Pty Ltd.

China Medical

CATALIST-LISTED China Medical (International) Group (CMIG) has agreed to buy a majority stake in The Sloane Clinic, an aesthetic and plastic surgery chain in Singapore and Malaysia, for S$9.5 million. CMIG will acquire 51 per cent of the issued capital of medical services companies Eastlife and Maxglobe, which own six clinics operating under The Sloane Clinic brand, from Asia Pacific Medical Group. CMIG will purchase 40,800 ordinary shares in Eastlife and 81,600 ordinary shares in Maxglobe for S$9.5 million. The payment comprises S$6.5 million in cash and S$3.0 million in shares. This is the first acquisition for CMIG, which was renamed from Albedo following a revamp in late 2015.

Sembcorp Marine

SEMBCORP Marine Offshore Platforms - a wholly-owned subsidiary of Sembmarine - will be acquiring the remaining 30 per cent equity stake in Sembmarine North Sea (SNS) for £137,500 (S$234,065), from existing minority shareholders.

This will be fully paid for in cash by internal funds.