Sakae Holdings, famous for its chain of sushi outlets, announced on July 19 2023 that Foo, executive chairman of the company, has reached an agreement to sell a 27,794,400 shares to Makara Capital for $26.5 million.
The sales and purchase agreement last July by Sakae Holdings (SGX:5DO
) ' controlling shareholder Douglas Foo to sell part of his stake to an entity called Makara Capital has lapsed.
However, in an update on Nov 8, Sakae Holdings, citing Foo, says that the agreement remains "in force" and parties are in still in talks on a "new completion date".
