Wong Fong Industries: Inks Deal To Expand Training Business.

17 Aug 2017 10:24

Wong Fong Industries Limited has signed a sale and purchase agreement to acquire a 60% stake in a hospitality consultancy and training group, Ascendo International Holdings Pte. Ltd.. The purchase consideration of up to S$4.0 million will be satisfied by cash and by the issuance and allotment of new shares in the share capital of Wong Fong Academy Pte. Ltd., a subsidiary of Wong Fong Industries. Upon completion of this acquisition, the founders of Ascendo will hold a combined stake of 20% in WFA's enlarged issued and paid-up share capital...

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