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StanChart Singapore acquires substantial stake in wholesale supplier Phoon Huat

( July 6, 2016, 09:11 GMT | Insight) -- Standard Chartered Private Equity has acquired a significant stake in local wholesale baking ingredients supplier Phoon Huat for a reported S$150 million to $200 million ($111.2 million to $148.3 million), the Straits Times reports. Standard Chartered Private Equity has acquired a significant stake in local wholesale baking-ingredients supplier Phoon Huat for a reported S$150 million to $200 million ($111.2 million to $148.3 million), the Straits Times reports. An anonymous source added the SCPE planned to eventually acquire full control. The move is SCPE’s fifth such deal in Singapore since 2004, including last year’s $52-million investment in Crystal Jade Culinary Concepts, owned by the private equity arm of LVMH Moet Hennessy Louis Vuitton.   ...

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