Halcyon Agri Corporation, a Singapore-listed producer of natural rubber, said it has agreed to buy New Continent Enterprises. Halcyon Agri signed a memorandum of agreement to acquire the Singapore-based rubber distributor and dealer, it said. It will pay about $30 million (S $37 million), with the final amount to be determined based on New Continent as at July 31.
Mainboard-listed Halcyon Agri will make the payments in four equal quarterly installments in cash or in new shares at prices ranging from 90 cents to $1.80 per share.