Amara Holdings Appoints W Capital Markets Independent Financial Adviser Privatisation Offer

Amara Holdings announced that it has engaged W Capital Markets as the independent financial adviser (IFA) for the voluntary conditional cash offer made by DRC Investments for $514.6 million. DRC Investments, which is backed by the Teo family that controls Amara Holdings, offered 89.5 cents per share on Apr 28 to privatise the property and hospitality company. With DRC Investments having already acquired 90.58% of Amara Holdings’ shares, the offer is expected to be successful. DRC Investments is a group made up of Shorea HwaHong Newfields, a VCC supported by Hwa Hong Corporation and the Newfields group of companies; Winteam Investment, a subsidiary of Wing Tai Holdings Limited; and Albertsons Capital, whose shareholders include Amara’s chairman, executive director and CEO – Albert Teo – and its chief operating officer – Dawn Teo. These three parties hold 35%, 35% and 30% respectively in DRC Investments.Read also: Amara Holdings receives 89.5 cents per share general offer from chairman Teo, Wing Tai, Hwa Hong and NewfieldsAdvertisementAdvertisementW Capital Markets is also the IFA for the directors of Sinarmas Landfor the privatisation plan proposed by the Widjaja family, which is headed by billionaire Teguh Widjaja.W Capital Markets, which secured a new round of funds in January, has seen its valuation double to $42 million from its previous round of $21 million in 2021.Amara Holdings has been a listed company since 1997 and has not raised additional capital from the equity market.UOB has been appointed as the financial adviser for this deal.Shares in Amara Holdings closed unchanged at 88.5 cents on May 7.

In addition to its famous hawker centres, Queenstown is also home to a growing array of cafés and restaurants for residents to enjoy. Located in the nearby Dawson estate, a number of trendy cafés and bistros have emerged, catering to a diverse range of tastes and preferences. These establishments offer a variety of specialty coffees, brunch options, and fusion cuisine, appealing to a younger crowd and working professionals seeking both a relaxed and stylish dining experience. Among the popular choices are Tiong Bahru Bakery Safari, The Food Barn, and Creamier, all of which have become go-to spots for residents looking for delectable food and a vibrant neighbourhood atmosphere. Whether it’s a leisurely weekend brunch or a quick cup of coffee, those living at Penrith will never run out of cozy places to unwind and enjoy the community lifestyle. Don’t forget to check out Penrith Margaret Drive for more exciting options.