Rajah & Tann assisted BreadTalk Group on the transaction.
A consortium led by mainboard-listed Lian Beng Group is set to buy the BreadTalk IHQ Building in Tai Seng in an S$118 million sale-and-leaseback deal.
BreadTalk Group, which was privatised by its founders last year, will rent the property as an anchor tenant for an initial 10 years.
Lian Beng, which holds a 75 per cent stake in the consortium, plans to fund its share of the purchase through bank borrowings and/or internal resources.
Meanwhile, another 5 per cent of the joint venture is held by 32RE Investments, tied to an associate of Lian Beng spin-off SLB Development.
The third partner, with a 20 per cent interest, is Apricot Capital, a private investment firm by the Super Group’s Teos.
The Rajah & Tann team was led by Partner Elsa Chai (Picture).
Involved fees earner: Elsa Chai – Rajah & Tann LLP;
Law Firms: Rajah & Tann LLP;
Clients: BreadTalk Group Limited;