Mercurius Capital moves closer to buy 10 grocery business in Malaysia

TheStar Mon, Jun 07, 2021 11:33am - 2 years View Original


SINGAPORE: Mercurius Capital Investment said its legal counsels in Malaysia have started the drafting and preparations of the necessary legal documentation for the proposed acquisition of 10 grocery businesses in Malaysia, Bloomberg reported.

Additionally, the company's management has also commenced a review of the financial statements and related financial information of the stores, according to a Monday bourse disclosure.

The Singaporean real estate investment firm previously signed a legally binding term sheet in April to acquire Tan Lee Heng, Songmart Cash & Carry, Granville Grocery and seven Pasaraya Songmart branches located in Kluang, Kulaijaya, Kota Tinggi, Pulai Perdana 2, Sri Stulang, Bandar Tenggara and Chellam, Malaysia, Bloomberg reported.

Mercurius Capital's shares soared over 21% in recent trade.

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