SGX-listed Memories Group to buy luxury yachting business Burma Boating

Photo: Burma Boating.

Singapore-listed Memories Group Limited, a Myanmar-based tourism company, is acquiring Burma Boating, a luxury yachting business which offers cruising services, for a cash consideration of about K1.3 billion (about $1 million), the company announced on March 5.

The purchase is to be conducted through Yangon-based Tint Tint Travel and Tours Company Limited and Freepier Limited, a Seychelles-registered company. Memories Group will finance the acquisition through internally generated funds.

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