Bapcor Limited (ASX:BAP) entered into an agreement to acquire 25% stake in Tye Soon Limited (SGX:BFU) from Obg & Sons Pte Ltd for SGD 12.3 million on March 19, 2021. Under the terms, Bapcor Limited will acquire 21,816,257 ordinary shares comprising 25% of the issued and paid up capital of Tye Soon. Obg & Sons Pte Ltd now holds 51.64% stake in Tye Soon Limited. Under the terms and conditions, it is envisaged that there will be a refreshing of the Board, and it is expected that new Directors to be nominated by the purchaser to the Board of Tye Soon. Completion of this transaction is expected to take place by end April 2021. Danny Lim and Penelope Loh of Rajah & Tann acted as legal advisor to Obg & Sons Pte Ltd.

Bapcor Limited (ASX:BAP) completed the acquisition of 25% stake in Tye Soon Limited (SGX:BFU) from Obg & Sons Pte Ltd in April 2021. Tye Soon reported revenue of SGD 220 million per annum.