According to the company, the proposed acquisition is a strategic investment with Carat&Co’s existing business seen as complementary to the company’s previous core engineering and construction business segment.
Tee International (SGX:M1Z
) has proposed the acquisition of the issued and paid-up share capital of Carats&Co, a signs and displays manufacturer, for some $14.0 million.
On Dec 14, Tee International entered into a binding term sheet with the shareholders of Carats&Co, which has a total issued and paid-up share capital of $2 million comprising 2 million ordinary shares.
