Boustead Projects Limited (SGX:AVM) entered into a sale and purchase agreement to acquire 25% stake in DSCO Group Holdings Pte. Ltd. from Chang Kwok Kin, Chan Jacqueline, Liu Wang Lai and Kuan Mun Fai (Guan Minhui) for SGD 4.2 million on March 29, 2019. The consideration is subject to post-completion adjustments. Boustead Projects Limited will acquire 0.28 million shares of DSCO Group Holdings and will pay the consideration in cash. The consideration will be funded from internal resources of Boustead Projects Limited. Boustead Projects Limited will also enter into a shareholders’ agreement with the vendors following completion of the acquisition, under which the vendors will grant Boustead Projects Limited a call option to acquire remaining shares in DSCO Group Holdings within the third to seventh years from completion of the acquisition. DSCO Group Holdings reported net assets of SGD 7.7 million as of December 31, 2018. The vendors will continue to manage the day-to-day business of DSCO Group Holdings and its subsidiaries independently from Boustead Projects Limited. The transaction is expected to complete in April 2019. The transaction is not expected to have any material impact on the net tangible assets per share or earnings per share of Boustead Projects Limited for the current financial year ending on March 31, 2019.