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New Silkroutes to buy 51% stake in Stamford Management

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Published Tue, Mar 1, 2016 · 09:50 PM

Singapore

NEW Silkroutes Group (NSG), via its wholly owned subsidiary New Silkroutes Capital Pte Ltd, has proposed to buy a 51 per cent stake in Stamford Management Pte Ltd for up to S$24.48 million, to further diversify into the fund management business.

NSG has also entered into a call option agreement with Stamford Management to purchase the remaining 49 per cent for not more than S$23.52 million, the mainboard-listed company said on Tuesday.

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