Grand Venture Technology Limited entered into a conditional sale and purchase agreement to acquire Acp Metal Finishing Pte Ltd from Ardille Pte Ltd for SGD 17 million.

Grand Venture Technology Limited (SGX:JLB) entered into a conditional sale and purchase agreement to acquire Acp Metal Finishing Pte Ltd from Ardille Pte Ltd for SGD 17 million on November 30, 2023. The transaction is subject to the approval of the shareholders of Grand Venture Technology Limited and execution of escrow agreement. The consideration of SGD 17 million is intended to be funded by bank borrowings.

As of September 30, 2023, Acp Metal Finishing Pte Ltd reported net book value of SGD 15.1 million. The transaction was approved by the Board of Directors and shareholders of Grand Venture. The long stop date is March 31, 2024.

Baker Tilly Consultancy (Singapore) Pte Ltd acted as due diligence advisor to Grand Venture.