S$65 million sale of shares in Speedy Industrial Supplies Pte Ltd to BizLink Holding Inc.
A&G News 20 April 2020
Allen & Gledhill advised Mr Wong Ghan (“Mr Wong”) and Mdm Chin Lee (“Mdm Chin”), founders of the Speedy group, as transaction counsel, on the S$65 million sale of their shares (“Sale”) in Speedy Industrial Supplies Pte Ltd (“Speedy Singapore”) to BizLink Holding Inc..
The Sale was made subsequent to the transfer of all the shares of Mr Wong in S I S Speedy Industrial Supplies Sdn. Bhd. (“Speedy Malaysia”) to Speedy Singapore, to consolidate sole ownership of Speedy Malaysia in Speedy Singapore. Speedy Malaysia is the Malaysian subsidiary of Speedy Singapore.
Advising Mr Wong and Mdm Chin were Allen & Gledhill Partners Tan Su May and Michelle Fum.
Advising Mr Wong and Mdm Chin on the Malaysia law aspects of the transaction were Partners Chen Lee Won and Lum Sher Vin of Rahmat Lim & Partners.