Karrie International Holdings Ltd. completed the acquisition of 70% stake in Full House Lifestyle Concept Sdn. Bhd., 70% stake in Full House Management Sdn. Bhd., 70% stake in Trendtastik Sdn. Bhd., 35% stake in Fullhouse Pastry Sdn. Bhd., 42% stake in Layar Sinarmas Sdn. Bhd., 17.5% stake in Peak Century Sdn. Bhd. and 14% stake in Fullhouse Singapore Pte. Ltd. from Full House Lifestyle Store and Cafe Sdn. Bhd.
The transaction is conditional upon certain conditions precedent being satisfied including due diligence and is expected to complete on September 28, 2012. If any of the conditions precedent have not been fulfilled on or before October 31, 2012 or such later date as agreed by the parties, the agreement shall lapse and the parties shall not be bound to proceed with the acquisition except for any antecedent breaches of the agreement. The transaction is expected to close by March 31, 2013.
Karrie International Holdings Ltd. (SEHK:1050) completed the acquisition of 70% stake in Full House Lifestyle Concept Sdn. Bhd., 70% stake in Full House Management Sdn. Bhd., 70% stake in Trendtastik Sdn. Bhd., 35% stake in Fullhouse Pastry Sdn. Bhd., 42% stake in Layar Sinarmas Sdn. Bhd., 17.5% stake in Peak Century Sdn. Bhd. and 14% stake in Fullhouse Singapore Pte. Ltd. from Full House Lifestyle Store and Cafe Sdn. Bhd on December 31, 2012.