SINGAPORE (Feb 13): Epicentre Holdings, the Catalist-listed retailer of Apple products in Singapore, on Friday entered into an agreement to acquire a 51% stake in Japan IPL Holdings, which operates the aesthetic salon chain Japan IPL Express, for $3.06 million.

Upon completion of the acquisition, Japan IPL will become a subsidiary of Epicentre.

In a Saturday filing to the SGX, Epicentre says the transaction will be satisfied entirely through the allotment and issuance of 20.4 million new ordinary shares in the capital of Epicentre to three of Japan IPL’s shareholders, while the issue price of 15 cents per consideration share represents a discount of about 5.36%.

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