Fragrance Group plans to spin off Australian property business on Catalist

SINGAPORE - Fragrance Group is considering spinning off its property business in Australia on the Catalist board.

The company has appointed SAC Capital to advise it on the proposed restructuring. The hospitality group said the proposed restructuring is in its preliminary stages and dependent on the results of preparatory work to be undertaken, the requisite approvals from the relevant regulatory authorities and the then-prevailing market conditions.

Accordingly, there is no assurance that the spin off will materialise, it noted.