Tai Sin Electric to Increase Stake in Elmecon

Tai Sin Electric Limited (SG:500) has released an update.

Tai Sin Electric Limited, through its wholly-owned subsidiary Lim Kim Hai Electric Co. (S) Pte. Ltd., has revised the terms of its Share Purchase Agreement for the acquisition of PT Elmecon Multikencana. The updated agreement removes the previous Profit Target and sets the purchase price at IDR8,364,000,000, allowing for a 20% additional stake acquisition. This deal, slated for completion on January 2, 2025, will increase Lim Kim Hai Electric’s ownership in Elmecon from 40% to 60%.

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