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Straits Construction to stage reverse takeover of mainboard-listed Transcu

Published on Feb 26, 2014 5:52 PM

Construction firm Straits Construction has inked a deal to stage a reverse takeover of struggling mainboard-listed biotech firm Transcu Group, Transcu said in a statement on Wednesday.

It declined to reveal the value of the deal.

Straits Construction raked in revenue of $413.3 million and net profit of around $49.5 million for 2012, according to the latest available data from the Accounting and Corporate Regulatory Authority.

Transcu said that the deal would give it a "new lease of life via an entity with a proven track record, in an industry with potential for growth".

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