Company briefs: Apac Realty
Sign up now: Get ST's newsletters delivered to your inbox
Apac Realty
Apac Realty, which owns ERA Realty Network in Singapore, is set to have a new majority shareholder.
A fund managed by Morgan Stanley Private Equity Asia has agreed to acquire a 59.8 per cent stake in the company from an entity controlled by private equity firm Northstar Group.
The total consideration for the stake is around $129.5 million - or 61 cents per share - and the offeror intends to make an unconditional mandatory general offer for all the outstanding shares in Apac Realty, other than those already owned, controlled or agreed to be acquired by it.
THE BUSINESS TIMES
Meta
Meta Platforms is set to open its first physical store where shoppers can try out and buy virtual reality (VR) headsets and other gadgets as the company plots a course to take its highly touted metaverse mainstream.
The 1,550 sq ft Meta Store at the company's Burlingame campus in California opens on May 9, and will feature demos for its Quest 2 VR headset and video calling device Portal as well as Ray-Ban's augmented reality glasses, Meta said on Monday.
REUTERS
Maersk
Shipping group Maersk, often seen as a barometer for global trade, yesterday cautioned that the container market may normalise in the second half of the year, even as it raised full-year guidance driven by high container freight rates.
The shipping industry has seen record profits in recent quarters as a surge in consumer demand, pandemic-related bottlenecks in the United States and Chinese ports and more recently an airspace closure following Russia's invasion of Ukraine prompted a spike in freight rates.
REUTERS
