Singapore-based companies were engaged in diversification and restructuring deals with the sustainable solution company Hyflux acquiring 30 per cent in Kaqun Europe even as CIMS group company Pteris took over another group company CIMC Air MarrelSAS
Hyflux to buy 30% in beauty and therapy company Kaqun Europe for $8m
Singapore-listed sustainable solutions from Hyflux Ltd has reached a deal to buy 30 per cent stake in the consumer water technology company, Kaqun Europe Zrt (Kaqun Europe), for $8 million, the company said in a regulatory filing after the close of market hours.
Launched in 2002, Kaqun Europe claims to have pioneered a water with beneficial properties that promotes overall wellbeing. Developed from more than 10 years of research in water science and technology, this water forms the basis of all products within the Kaqun line including baths, bottled water and skincare, and is available in Europe and the US through direct sales and distributors, the filing noted.
The deal will see Hyflux integrate its proprietary technology together with Kaqun Europe for a product line that it has exclusive rights to manufacture, sell, market and distribute under the brand name ELO in the Asia-Pacific, the Middle East and Africa, through a newly established entity called Elo Water Pte Ltd (Elo).
Hyflux Consumer will own a 70 per cent stake in Elo while Kaqun Europe will own the remaining 30 per cent. The application of Hyflux’s expertise will help to optimise the efficacy of the water and scale up the business, the company’s filing added.
“We see increasingly attractive opportunities in the consumer segment as consumers take a greater interest in and responsibility for their own health,” Hyflux chief executive Olivia Lum said in a statement.
Pteris acquires CIMC Air Marrel for EUR 1.5m
Singapore-listed Pteris Global announced Wednesday that it was acquiring 100 per cent in CIMC Air MarrelSAS for EUR1.5 million ($2.3 million) from China International Marine Containers (Group) Ltd (CIMC).
CIMC is also the controlling shareholder of Pteris.
The company will fund the deal through internal resources of the group and bank loans. The deal will see it deposit EUR757,277 within ten days upon signing of the deal agreement, and the remaining amount shall be paid within 10 days upon completion of the proposed acquisition, the filing added.
CIMC Air MarrelSAS, set up in 2013, is France incorporated, and is principally engaged in the business of manufacturing and exporting ground support equipment.
As of June 2015-end, CIMC Air MarrelSAS had the book value and net tangible asset value of about EUR1,514,554, and registered a net profit for the financial year ended 31 December 2014 and the six months financial period ended 30 June 2015 of about EUR65,000 and EUR0.23 million respectively.
Post the deal, it will become a wholly owned subsidiary of Pteris Global.
Pteris further added that it was exercising the call option disclosed in the circular on the acquisition of Shenzhen CIMC-Tianda Airport Support in June 2014, as it plans to expand its airport equipment business into the ground support equipment business. Its shares closed 1.7 per cent higher at 58.5 cents.