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Singapore: Temasek postpones sale of US$3B AS Watson stake

By  |  September 4, 2019

Temasek Holdings is postponing the sale of a minority stake in AS Watson Group, the retailer backed by Hong Kong tycoon Victor Li, as months of anti-government protests continue to rock the city, reported The Financial Times.

The Singapore state investment company put the process on hold after failing to reach agreement on valuation with potential buyers, said the people, who asked not to be identified as the discussions are private. 

In addition to the turmoil in AS Watson’s home market of Hong Kong, uncertainties around Brexit have affected the retailer’s business in the UK, where it runs the Superdrug chain, one of the people said.

Full Content: Financial Times

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