Serial System to sell stake in laundry business
Add BT as a preferred source
Janice Heng
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
SERIAL System will sell its stake in Australian laundry business SPL Holdings (Australia) Pty Ltd for US$31.2 million, the electronic components distributor said on Wednesday.
Serial System said it expects to recognise a gain of US$20 million from the sale of its entire 27.34 per cent stake in SPL, representing a premium of 179 per cent over the company's book value in SPL as at June 30, 2018.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
