Alpina Holdings nixed the proposed acquisition of Wan Dormitory

The agreement expired on 15 September 2023.

The board of directors of Alpina Holdings Limited announced that it will not proceed with the proposed acquisition of Wan Dormitory from Dacai Pte. Ltd. and Dong Cai.

“No agreement has been made between the Company and the Vendors for an extension of the Exclusivity Period. The Vendors have also informed the Company on 15 September 2023 that they do not wish to proceed with the Proposed Acquisition,” read the statement.

The expiry of the agreement was on 15 September 2023, to which Alpina Holdings said they do not wish to extend the acquisition agreement.

The company said it is considering the options and rights with its legal advisors for recourse against the Dacai and Dong Cai, which includes the full refund of deposit by vendors to the company.