Clearbridge Health to Acquire Alfa Valves Indonesia for SG$3 Million
MT Newswires11-04
Clearbridge Health (SGX:1H3) signed a conditional deal to acquire a 99.996% stake in Alfa Valves Indonesia from Pan Asian Global for SG$2.8 million.
The acquisition will include the target and its units, which manufacture and trade valves and pipes mainly for the water management and oil and gas industries across Indonesia, Singapore and Hong Kong.
The consideration comprises SG$1.5 million in cash and 630 million new shares issued at SG$0.002 each.
The company also proposed diversifying into valves and pipes manufacturing and trading and changing its name to Duvalco. The proposed transactions are subject to shareholder approval, it said.
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