SINGAPORE: Albedo Ltd has agreed to a S$774mil (US$621mil) takeover by a company controlled by Malaysian businessman Tan Sri Danny Tan in a deal that will see Albedo join international property developers buying up land in Malaysia's sought-after Iskandar region.
Shares of Albedo fell as much as 13 percent in early trading in Singapore in response to a transaction that will see existing investors' holdings diluted.
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