Company Briefs: Frasers Centrepoint

Frasers Centrepoint

A unit of Frasers Centrepoint (FCL) has entered into a conditional deal to acquire a 76.5 per cent stake in a German car warehouse owner for €20.5 million (S$32.3 million).

The German company - Harder, Gutperle, Harder & Gutperle - holds the freehold interest in an automotive logistics facility comprising two industrial warehouses in Germany, leased on a long-term basis to a leading German car manufacturer. The property in south-west Germany has a gross lettable area of 38,870 sq m. It was valued at approximately €22 million on Dec 20 last year.


GK Goh Holdings

GK Goh Holdings has dismissed an Australian Financial Review report asserting the firm was rethinking its investment in an Australian residential aged care operator.

The company said in a filing with the Singapore Exchange that there was no truth to the report that said "GK Goh Holdings is considering cashing in its chips at local residential aged care operator, Opal Aged Care" and had "started talking to parties that may be interested in taking a stake" in Opal.

GK Goh holds a 47.6 per cent stake in Opal via a wholly owned subsidiary, Allium Holdings. AMP Life owns a 47.6 per cent interest in Opal as well, with Opal's management team holding the balance.

GK Goh said it "remains committed to its partnership with AMP Life, which continues to underpin Opal's expected growth over the medium to long term". "We believe that Opal is well positioned as one of the largest, most progressive and fastest-growing operators of residential aged care in Australia."

GK Goh paid A$136.7 million (S$143.6 million) four years ago for its share in Domain Principal Group, as Opal was then known.


StarHub

StarHub, which holds a 51 per cent stake in Accel Systems & Technologies, has agreed to acquire the rest of the 49 per cent stake in the cyber-security systems integrator.

The deal will be done in two phases, with StarHub first taking a 29.4 per cent stake this month, and the remaining 19.6 per cent by the first quarter of 2020. Following the completion of both phases, Accel will be a wholly owned unit of StarHub. StarHub said the maximum cash price for the two phases will be up to S$26.2 million. The acquisition will be funded with internal cash resources.

A version of this article appeared in the print edition of The Straits Times on July 08, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe