SINGAPORE (Yosefardi) – SGX-listed Auric Pacific Group Limited, controlled by Lippo Group, proposes voluntary unconditional cash offer to acquire all the issued and paid-up ordinary shares in the capital of Food Junction Holdings Limited at price of S$0.255 per share.
The tender offer will be made through Auric’s indirect wholly-owned subsidiary APG STRATEGIC INVESTMENT PTE LTD, facilitated by DMG & Partners Securities Pte Ltd (Financial Advisor).
APG Strategic Investment together with Auric Pacific Investment Pte Ltd collectively hold an aggregate of 74,935,285 shares in Food Junction, representing a majority stake of 61.42% of the shares in the issued and paid-up share capital of Food Junction.
Food Junction and its subsidiaries run a full-fledged food service business in Singapore, Malaysia, Indonesia, China and Hong Kong. It manages both food courts and high-end and casual multi-cultural restaurants.
Auric Pacific has diverse interests ranging from distribution of fast moving consumer goods, food manufacturing and retailing, management of restaurant and food court operations to other strategic investments.
Auric Pacific is 49.28% owned by the Lippo Group of companies, an international conglomerate with interests in the property, retailing and media sectors.