Completion Of The Disposal Of Northern Retail Pte. Ltd. By Northernone Development Pte. Ltd.
On 24 January 2022, the board of directors (the "Board") of BBR Holdings (S) Ltd (the "Company", and together with its subsidiaries, the "Group") announced that its 25.05%-owned associated company, Northernone Development Pte. Ltd. ("Vendor"), has entered into a sale and purchase agreement with Flaming Power Limited for (i) the sale of the entire issued and paid-up share capital of Northern Retail Pte. Ltd. (the “Target”) which is a wholly-owned subsidiary of the Vendor, and (ii) the assignment of the outstanding principal and all accrued interest under a shareholder’s loan extended by the Vendor to the Target as at the date of completion of the sale and purchase (“Completion Date”) (the “Proposed Disposal”).
