Hatten Land signs term sheet to acquire Metrocon
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Hatten Land Limited has signed a term sheet to acquire 100% of Metrocon Pte. Ltd. for $24 million in new shares. The acquisition, pending shareholder and regulatory approvals, is expected to be a reverse takeover under SGX Catalist rules. RHT Capital Pte. Ltd. will act as financial adviser. The deal aims to diversify Hatten Land's business and stabilize its finances, with completion anticipated within four weeks after meeting conditions. Hatten Land's shares have been suspended since August 2024, and the company is under judicial management.
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Source: Singapore Business Review The copyright of this article belongs to the original author/organization.
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