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F&N wants title to Penguin Random House's S'pore, Malaysia units for S$8m

It will add well-known brand to its loss-making print arm

Published Mon, Jan 9, 2017 · 09:50 PM

Singapore

BEVERAGE and publishing conglomerate Fraser & Neave (F&N) will buy the Singapore and Malaysian distribution arms of book publisher Penguin Random House for S$8 million as the active acquirer looks to shore up a loss-making business segment.

The consideration is subject to certain post-completion adjustments for cash, debt and working capital, and will be payable in cash from internal resources, F&N said after the market closed.

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