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Article: DAIRY FARM ACQUIRES SHOP N SAVE SUPERMARKETS IN SINGAPORE.
- Article from:
- AsiaPulse News
- Article date:
- November 17, 2003
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SINGAPORE, Nov 17 Asia Pulse - Pan-Asian retailer Dairy Farm International Holdings Limited (SGX:DAIR) said its subsidiary, Cold Storage Singapore (1983) Pte Ltd, will acquire all the shares of Shop N Save Pte Ltd in Singapore for US$52 million (S$90 million).
Shop N Save operates 35 stores in Singapore and is the third largest supermarket chain in the country. The acquisition of the Shop N Save outlets will increase the number of Dairy Farm's supermarkets in Singapore to 75 stores.
The acquisition, which is expected to be completed shortly, will be funded from Dairy Farm's internal cash resources. Shop N Save is owned jointly by Singapore's QAF Ltd and ...