Vibrant Group (SGX:BIP) has acquired a 60% stake in Fair Breeze Trading for around SG$7.7 million, according to a Monday filing with the Singapore Exchange.
Fair Breeze is a supplier of duty-free alcoholic beverages and tobacco products to cruise liners, naval ships, and other maritime customers. It has now become a subsidiary of Vibrant Group.
The logistics company also secured call options over the remaining 40% stake, which can be exercised in tranches over three years.
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