RCMA Group completes sale to Halcyon Agri of RCMA’s Polymer business division pursuant to sale and purchase agreement dated 21 November 2017
Singapore, 11 January 2018 – We are pleased to announce that, pursuant to the sale and purchase agreement dated 21 November 2017 between RCMA Group Pte Ltd (the “Company“) and Halcyon Agri Corporation Limited (the “Buyer”) (the “SPA“):
- Pursuant to the fulfilment of the condition precedents set out in the SPA, the Buyer together with its subsidiaries has on 8 January 2018 completed the acquisition of all of the rubber trading and distribution business of RCMA Group in Europe, the United States, Singapore, and Thailand.
- The purchase consideration for this acquisition has been determined to be US$31.8 million and has been fully satisfied in cash.
- With the completion of this acquisition, RCMA Terminals B.V. (to be renamed as Kelvin Terminals B.V.) and RCMA (Hatyai) Limited (to be renamed as Centrotrade Hatyai Co., Ltd.) have become subsidiaries of the Buyer.
For more information please refer to Halcyon’s SGXnet announcement HERE.
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