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Keynote Capital to exit Apollo Food Holdings as Scoop Capital proposes acquisition

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Keynote Capital,Apollo Food Holdings,Scoop Capital

Keynote Capital Sdn Bhd, controlling shareholder of Apollo Food Holdings Bhd, is confirmed to be exiting the group, reported The Edge. This followed the proposal by Scoop Capital Sdn Bhd, the franchisee of Baskin-Robbins, to acquire Keynote's entire 51.31 per cent stake in the confectionery maker for RM238.08 million in cash.

Keynote Capital Sdn Bhd, the controlling shareholder of Apollo Food Holdings Bhd, is confirmed to be exiting the group as Scoop Capital Sdn Bhd proposes to acquire Keynote's stake in the confectionery maker for RM238.

08 million in cash. Scoop Capital will purchase 41.05 million Apollo shares from Keynote at RM5.80 per share, a 7.4% premium to the last closing price. Scoop Capital is also obliged to extend a mandatory takeover offer for the remaining stake in the group.

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