Straco

Straco: To lift halt at 8.30am tmrw. Confirms earlier news reports regarding the potential acquisition of the Singapore Flyer. Straco’s 90% owned subsidiary, Straco Leisure will acquire Singapore Flyer Pte Ltd (SFPL) as a going concern, which includes the giant observation wheel and the lease of the property located at 30 Raffles Avenue, for purchase consideration of $140m. The acquisition represents an expansion of the group’s core tourism related business.