AcroMeta Receives Buy-Out Offer for its Controlled Environments Engineering Subsidiary
Ltd. (the "Purchaser") in relation to the sale and purchase of 100% of the issued share capital of its wholly-owned subsidiary, Acromec Engineers Pte Ltd (the "Buy-Out").
- Ltd. (the "Purchaser") in relation to the sale and purchase of 100% of the issued share capital of its wholly-owned subsidiary, Acromec Engineers Pte Ltd (the "Buy-Out").
- In addition, the Buy-Out is set to include the novation of LSI's net debt, further strengthening the Group's financial position.
- - 6 October 2023 - LSI entered into a Management Agreement with HB Universal Pte Ltd, a subsidiary of Mainboard-listed Ho Bee Land Limited.
- Mr Levin Lee, ACROMETA's Executive Chairman, said, "While the controlled environments engineering EPC (Engineering, Procurement, Construction) business still has growth potential, there will be ongoing margin pressures and challenging operating conditions, primarily due to increased costs in energy, manpower and construction materials.