LTC Corporation unit to buy 50% of USP Equity for RM70m
LTC Corporation said its wholly owned unit, LTC Capital Holdings Sdn Bhd, entered into a share purchase agreement on Friday with USP Resources Sdn Bhd to acquire a 50 per cent stake in USP Equity Sdn Bhd for RM70.14 million (S$25.18 million).
This followed the heads of terms inked between the two parties earlier in February.
The target company is a vehicle set up by USP Resources to acquire its entire shareholding in departmental stores operator SKLDS as part of a proposed corporate restructuring exercise.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
US: Nasdaq, S&P tumble as Netflix, chip stocks drag
Europe: L’Oreal gains cap third week of declines
Telegram messaging service to allow Tether stablecoin payments
Hong Kong regulator to probe PwC auditing role over Evergrande
US: S&P, Dow open flat as Middle East jitters ease, Netflix weighs on Nasdaq
DBS puts 46 retail units, HDB shops on market for S$210 million