The proposed transaction will require the necessary approvals, including that of the shareholders of the two companies, the Singapore Exchange, the Stock Exchange of Hong Kong and the Competition and Consumer Commission of Singapore .
If the terms of the definitive agreements cannot be agreed upon, or the conditions of the proposed transaction satisfied, by Dec 31, 2021, the heads of agreement will be terminated. This month, mm2 Asia had said that it was evaluating a spinoff of its cinema business via a listing on the SGX Catalist board."That spinoff is being proceeded with in parallel with the work on the proposed transaction," it said.
"In the event that the IPO is completed successfully, mm2 Asia and OSGH will discuss in good faith the basis on which the merger and the proposed transaction would take place, taking into account the listed spinoff business."BT is now on Telegram!