Eugene Teo, CEO and co-founder of Shorea Capital, which owns Shorea Advisors, the manager of Shorea Hwa Hong Newfields variable capital company (VCC), says this is an opportunity for Amara Holdings shareholders to realise their investment at an attractive price and premium over the historical traded share prices.
An entity backed by multiple parties including Hwa Hong Corp, Wing Tai Holdings (SGX:W05
) and the Teo family controlling Amara Holdings (SGX:A34) is offering 89.5 cents per share to take over the property and hospitality firm at $514.6 million.
The vehicle used is called DRC Investments, which is held by a group of investors and which has already secured 90.58% of all Amara Holdings shares.
