Signature International Berhad (KLSE:SIGN) entered into the conditional share sale agreements to acquire 75% stake in Corten Interior Solutions Pte Ltd from Lim Leng Foo for SGD 45 million on November 3, 2022. The purchase considerations of SGD 45 million will be funded via a combination of internally generated funds and bank borrowings. For the Financial year ended February 28, 2022, Corten has revenue of 55.620 million. The Proposed Acquisitions will be subject to the foreign investment policies of the Government of Singapore, shareholders of Signature at an extraordinary general meeting, satisfactory legal, financial and/or business due diligence findings on Corten, consents and/or approvals from the existing bankers and/or financiers of Corten for the sale of the Corten Share. Acquisitions are expected to be completed by 1st half of 2023. Oon & Bazul LLP acted as legal advisor to Signature International. M&A Securities Sdn. Bhd. acted as financial advisor to Signature International. As of March 23, 2023, Shareholders of Signature approved the deal.

Signature International Berhad (KLSE:SIGN) completed the acquisition of 75% stake in Corten Interior Solutions Pte Ltd from Lim Leng Foo on May 17, 2023.