The proposal by Ho Bee Land, chaired by Chua Thian Poh, is subject to conditions including satisfactory completion of due diligence, as well as receipt of all necessary internal approvals, entry into a mutually acceptable scheme implementation agreement, and unanimous recommendation by the AVJennings board.
AVJennings, chaired by notable Singapore property figure Simon Cheong, has received a competing takeover bid of A$390.7 million from Ho Bee Land (SGX:H13
) (SGX:H13) or 70 Australian cents per share, trumping an existing offer of 67 Australian cents.
Back on Nov 28, 2024, the Singapore- and Australia-dual listed property firm had already entered into an exclusivity deed with Proprium Capital Partners and AVID Property Group at 67 Australian cents per share.
