PE firm ShawKwei buys majority stake in Singapore-based Gaylin for $50m

PE firm ShawKwei buys majority stake in Singapore-based Gaylin for $50m

Asia-focused PE fund manager ShawKewi Asia Value Fund through its wholly-owned unit PeakBayoi has acquired a majority stake in Singapore-based oil industry supplier Gaylin Holdings for S$68 million ($50 million).

Gaylin has issued 1.36 billion new ordinary shares equivalent to a 75.64 per cent stake in it to PeakBayoi at S$0.05 each aggregating to $68 million, the company said in a statement.

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