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Lorenzo International Ltd Signs MOU For Acquisition Of Ordinary Shares Comprising 49% Of Issued And Paid Up Share Capital Of GPS Alliance Holdings Pte. Ltd.


Wednesday, 3 Oct 2012 07:16am EDT 

Lorenzo International Ltd announced that the Company has on October 3, 2012 entered into a memorandum of understanding (MOU) with Mr Dennis Yong and Mr Jeffrey Hong (the Vendors), to acquire 49% of the entire issued and paid up share capital of GPS Alliance Holdings Pte. Ltd. (GPS) (the Proposed Acquisition). The remaining 51% shall be continued to be held by Koon Holdings Limited, a company listed on the Australian Stock Exchange and the Singapore Exchange. Incorporated in Singapore, GPS is an investment holding company that has 5 directly and wholly owned subsidiaries, namely, Global Property Strategic Alliance Pte. Ltd., GPS Alliance Home Solutions Pte. Ltd., GPS Alliance IT Pte. Ltd., GPS Alliance Development & Investment Pte. Ltd. and GPS Alliance Appraisals Pte. Ltd. GPS and its subsidiaries are hereinafter referred to as the GPS Group. 

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