LifeBrandz to acquire Yakiniku restaurant in Japan for S$200,000

LIFEBRANDZ said on Friday that it has entered into a non-binding Memorandum of Understanding with Koichiro Ara for the potential acquisition of the entire issued and paid-up capital of Beef by Koh for an indicative sum of S$200,000.

Beef by Koh is incorporated in Japan, where it runs one restaurant in Tokyo, serving beef cuisine such as Yakiniku (BBQ Beef), Korean cuisine and other creative cuisine.

Mr Ara, a Japanese citizen, is sole director and sole legal and beneficial owner of the company.

The deal is subject to the results of due diligence to be carried out by LifeBrandz.

LifeBrandz shares closed flat at S$0.003 on Friday.