Asia
Dezign Format, Hustle & Bustle Sign MoU on Potential Equity Deal
Dezign Format (SGX:UZF) signed a memorandum of understanding with edutainment firm Hustle & Bustle Group for a potential equity investment and preferred partner status, according to a Wednesday filing with the Singapore Exchange.Under the MoU, the parties will negotiate the conversion of certain outstanding payments owed to Dezign Format into equity, with the company also considering a supplementary cash investment.Hustle & Bustle owns the IMBA brand, including the IMBA Theatre at Gardens by the Bay, where Dezign Format was the design-and-build contractor.Dezign Format said the move aligns with its plan to transition its relationship with Hustle & Bustle from vendor to equity stakeholder.
SGX:UZF
