DFI Retail Group Management Limited’s S$125 million divestment of its Singapore Food business

Rajah & Tann Singapore, member firm of Rajah & Tann Asia, acted for DFI Retail Group Management Limited in relation to the divestment of its Singapore Food business, which includes the Cold Storage, CS Fresh, Jason’s Deli and Giant brands, to Malaysian retail group Macrovalue by way of a sale of its entire issued and paid-up share capital in Cold Storage Singapore (1983) Pte Ltd (“Cold Storage Singapore”), for a total consideration of S$125 million, subject to adjustments. Cold Storage Singapore is Singapore’s oldest supermarket chain. Partner Favian Tan from the Mergers & Acquisitions Practice led the transaction while Partner Benjamin Tay from the Corporate Real Estate Practice and Partner Khairil Suhairee from the Corporate Commercial Practice advised on the real estate and employment aspects of the transaction respectively. Additionally, Partners Benjamin Cheong and Glen Chiang from the Technology, Media & Telecommunications Practice advised on the intellectual property aspects of the transaction and Partner Benjamin Liew from the Financial Institutions Practice advised on the regulatory compliance aspect of the transaction.