Lucrum 1 offers S$115.6m for 52.5% stake in Cityneon

Singapore

SINGAPORE-LISTED Cityneon Holdings Limited says Lucrum 1 Investment Limited has made a pre-conditional mandatory general offer for all the shares of the former that are not already bought.

This comes as Lucrum, an investment holding company incorporated in the British Virgin Islands, had on Friday entered into a conditional share purchase agreement with Laviani Pte Ltd, where the latter will sell to Lucrum its 128.5 million shares or 52.51 per cent stake in Cityneon at S$0.90 apiece, in a cash deal valued at S$115.6 million.