CATALIST-LISTED ISOTeam will buy Coney International Ltd's entire stake in Pure Group, comprising six construction management firms, for S$24 million in cash and shares. Read more at The Business Times.
CATALIST-LISTED ISOTeam will buy Coney International Ltd's entire stake in Pure Group, comprising six construction management firms, for S$24 million in cash and shares.
The S$24 million purchase price was calculated based on six times the average earnings before interest and taxes of Pure Group for the period from July 1, 2016 to March 31, 2019 of approximately S$4 million.Pure Group's total EBIT for that period was about S$4.3 million. No independent valuation was conducted for Pure Group.
The deal will boost ISOTeam's overseas expansion - the group currently has a presence in Myanmar and Malaysia, while Pure Group has been engaged for work in Singapore, the Philippines, China, Malaysia and Thailand.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
War relic found at construction site near Aljunied MRTSINGAPORE: A war relic was found on Tuesday (Jul 23) at a construction site at 60 Geylang Lorong 23, near Aljunied MRT station. It was discovered ...
Read more »
Emas Offshore applies for judicial management after failed rescue dealsAILING offshore services provider Emas Offshore has applied to be placed judicial management, it said in a bourse filing on Monday afternoon. Read more at The Business Times.
Read more »
Business leaders call on govt to help firms help themselves in slowdownAS THE economic slowdown deepens, some business leaders in Singapore are calling on the government to look at immediate relief measures to help firms rise to the challenge, even as it stays focussed on long-term transformation efforts for the long run. Read more at The Business Times.
Read more »
Co-living firm Hmlet raises US$40m in Series B roundSINGAPORE-BASED co-living company Hmlet has raised US$40 million in a Series B round, which will allow it to continue growing across gateway cities in Asia, it said in a media statement on Tuesday. Read more at The Business Times.
Read more »