Farm Fresh lifts Inside Scoop stake to 85% in RM50.8M deal
What's the deal? Farm Fresh BhdDealroom has a profile for this one. Try Dealroom → will buy an additional 20% stake in The Inside Scoop Sdn BhdDealroom has a profile for this one. Try Dealroom → (TISSB) for RM50.8 million, raising its holding to 85% from 65%. The purchase follows a put option exercised by Edmund Tan Jun Hua.
Why now? The Malaysian dairy producer told Bursa MalaysiaDealroom has a profile for this one. Try Dealroom → it received notice from Tan on August 28 to sell his 174,618 TISSB shares under a shareholders' agreement signed in 2023.
The terms: The RM50.8 million price was set using a formula agreed by both parties, based partly on TISSB's business performance and financial position. Farm Fresh will fund the deal through internal funds, bank borrowings, or other fundraising.
The acquisition is expected to complete by September 25, subject to conditions under the shareholders' agreement.
Farm Fresh said the deal will not materially affect its net assets per share, gearing, or earnings per share for the financial year ending March 31, 2027.
The signal: The move deepens Farm Fresh's control over the ice cream chain as its shares rose 2.48% to RM2.07, valuing the company at RM3.90 billion.
Read more: klsescreener.com
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