M&As this week: Tiong Seng Contractors, One World Minerals
Tiong Seng Contractors (Private) Limited (TSCPL) has acquired an additional 20% stake in Steeltech Industries Pte Ltd, increasing its total stake in the target company to 71%.
The acquisition involved a cash purchase consideration of S$2m ($1.42m).
Also based in Singapore, the target company designs and manufactures metal and stainless steel work, structural steel works, steel mould fabrication and design, as well as provides engineering solutions.
Canada-based One World Minerals has agreed to buy Lithium Investments through acquiring its entire shares.
The target company has the rights and interests to acquire up to 90% interest in the Rico Litio Property in Mexico, which includes 75,410ha over a closed basin.