Kingyue International Move to Acquire Majority Stake in Samko Timber
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Kingyue International agreed to acquire the 66.91% stake held by Sampoerna Forestry in Samko Timber (SGX:E6R0) for SG$0.0005237 per share, according to a filing with the Singapore Exchange on Wednesday. Following the closing of the mandatory unconditional cash offer, Kingyue will conduct a comprehensive review of the company and its subsidiaries to enhance their strategic direction and operations. The holding company seeks to maintain Samko Timber's listing status.
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