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PR Newswire
22-10-2019, 07:09 PM
Acquisition of Coffeeshops and Industrial Canteen Outlets
Kimly Limited (“金味有限公司”) plans to acquire interests in several coffeeshops and industrial canteen unitsfor an aggregate consideration of S$59.0 million, which will result in the Group expanding its footprint to 81 outlets. The proposed acquisition is made in furtherance of the Group’s asset ownership strategy.
The Proposed Acquisition
Jin Wei Food Holdings Pte. Ltd. (“Jin Wei”), a wholly-owned subsidiary of the Group, has entered into a non-binding term sheet ("Term Sheet") with a group of third party vendors (“Vendors”) to acquire their interests in a portfolio of coffeeshop leases, coffeeshop units and industrial canteen units (together, the "Target Properties").
The Target Properties comprise:
a) four long term leasehold coffeeshop units, which are HDB commercial units located within mature HDB estates;
b) three freehold industrial canteen units, which are located in mature and populated industrial areas in close proximity to residential areas; and
c) three short term coffeeshop leases, which are HDB direct leases.
The Term Sheet is non-binding, pending completion of due diligence and valuation of the Target Properties by the Group.
More details in :
1. https://links.sgx.com/FileOpen/Project%2...eID=582616
2. https://links.sgx.com/FileOpen/KML%20Hol...eID=582617
Kimly Limited (“金味有限公司”) plans to acquire interests in several coffeeshops and industrial canteen unitsfor an aggregate consideration of S$59.0 million, which will result in the Group expanding its footprint to 81 outlets. The proposed acquisition is made in furtherance of the Group’s asset ownership strategy.
The Proposed Acquisition
Jin Wei Food Holdings Pte. Ltd. (“Jin Wei”), a wholly-owned subsidiary of the Group, has entered into a non-binding term sheet ("Term Sheet") with a group of third party vendors (“Vendors”) to acquire their interests in a portfolio of coffeeshop leases, coffeeshop units and industrial canteen units (together, the "Target Properties").
The Target Properties comprise:
a) four long term leasehold coffeeshop units, which are HDB commercial units located within mature HDB estates;
b) three freehold industrial canteen units, which are located in mature and populated industrial areas in close proximity to residential areas; and
c) three short term coffeeshop leases, which are HDB direct leases.
The Term Sheet is non-binding, pending completion of due diligence and valuation of the Target Properties by the Group.
More details in :
1. https://links.sgx.com/FileOpen/Project%2...eID=582616
2. https://links.sgx.com/FileOpen/KML%20Hol...eID=582617
Specuvestor: Asset - Business - Structure.