The Hour Glass (SGX:AGS) has agreed to acquire the entire issued and paid-up share capital of an Australian special-purpose vehicle for AU$90 million, according to a Monday filing with the Singapore Exchange.
The SPV, A.C.N. 685 541 851 Pty Ltd, has recently been incorporated in Australia and is involved in the business of retailing watches and other products.
Shares of the retailer of luxury watches and accessories were down nearly 4% in recent trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.