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Emaar-MGF bid for Singapore fashion retailer

05
Mar '07
Major glrobal real estate group Dubai-based Emaar Properties PJSC and one of India's leading real estate developers, the MGF group led by Mr Shravan Gupta (MGF or MGF Group), through their joint venture company – Golden Ace Pte Ltd, announced a voluntary conditional cash offer by the Offeror for RSH Limited.

RSH is a leading pan-Asian marketer, distributor and retailer of sports, golf, active lifestyle and fashion products listed on the Main Board of the Singapore Exchange Securities Trading Limited (SGX).

The company has carved out, through three decades of achievement, a retail network encompassing more than 28 different retail concepts and incorporating over 430 free-standing stores and 570 shops-in-shop in 12 countries. RSH has established a strong presence in four broad categories of lifestyle products, namely sports, golf, active lifestyle and fashion.

With an offer price of S$1.05 per share valuing RSH at approximately S$370 million, the Offer is conditional upon the Offeror receiving acceptances, which together with the shares held by the Offeror and its concert parties, will give the Offeror and its concert parties a stake of more than 76.076 percent of RSH (the “Condition”).

Commenting on the Offer, Mr Hussain Al Qemzi, Vice Chairman of Emaar Properties said, “The economies of India, Middle East and Southeast Asia are booming, and in line with the economic growth, the retailsector presents substantial growth opportunities.”


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