SATS has released an SGX announcement saying the company is indeed in discussions with third parties in connection with a potential sale of the Daniels Group. However it warns there is no certainty that they will arrive at a definitive agreement and no transaction may materialise from these discussions.
“In the event that the sale does not materialise, the Daniels Group will remain as part of SATS,” says the company.
The clarification announcement comes in response to a Sky News article, “Exclusive: Singapore offloads New Covent Garden Foods” and the story in The Grocer’s online, “Daniels in ‘advanced’ negotiations over sale” today where it was reported that SATS is conducting a sale process and is in negotiations to sell its equity in S Daniels PLC and International Cuisine.
SATS says it periodically reviews options and opportunities that are in line with its business strategies and its objective of enhancing shareholder value. It adds that it will keep its shareholders informed of any material development relating to the Daniels Group.
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