Emmar-MGF combine acquires Singapore retail firm

Published: Wednesday, April 18, 2007, 23:32 [IST]
 

Mumbai, Apr 18 (UNI) Dubai-based real estate group Emmar Properties and Indian real estate developer MGF Group through their joint venture company Golden Ace Pte, today acquired 61.3 per cent stakes in the Singapore firm RSH Limited.

The deal was made for Rs 629 crore.

RSH is a leading pan-Asian marketer, distributor and retailer of sports, golf, active lifestyle and fashion products listed on the Main Board of the Singapore Exchange Securities Trading Limited.

''We will be reviewing RSH's current operations, strategies and future plans once the integration process is over and aims to embark upon the ever-expanding retail world of Asia, Middle East and North African region will be opened to us with the acqusition,'' MGF director Siddharth Gupta said.

DBS Bank is the Financial Adviser and Wong Partnership is the Legal Adviser to the Offeror in respect of the Offer, sources said.

UNI


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