02 Jul 2018

Acquisition of Asian Story Corporation Pte. Ltd.

Partner Hoon Chi Tern and Associates Ng Su Rong and Chin Cher Lin acted for Kimly Limited in the acquisition of 100% of the issued and fully-paid ordinary shares in the share capital of Asian Story Corporation Pte. Ltd. ("ASC"). The deal features a two tier consideration structure with the first tranche at completion in cash and a further earn-out in cash and/or shares. ASC markets and sells a variety of drinks under its “Asian Story” brand which has a 7.7% market share and is the No.3 brand in the Singapore Asian drink market, and bottled water under its “Simply Water” brand.