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Serial System to sell stake in laundry business
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Janice Heng
Published Wed, Sep 12, 2018 · 09:50 PM
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.
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