Mindlink Groups withdraws from M&A deal with Century 21 Singapore
Singapore invoked its foreign interference law against Century 21’s principal advisors.
Mindlink Groups has withdrawn from its merger and acquisition (M&A) deal with Century 21 after one of the latter’s principal advisors, Philip Chan, received notice regarding the Foreign Interference Act.
“Mindlink Groups deems it necessary to immediately withdraw from the M&A acquisition deal,” the company said.
“We extend our gratitude for the positive collaboration experienced thus far and express regret over the circumstances leading to this decision,” the company added.
Despite the deal fallout, Mindlink Groups Chairman Chow Yi Tong said he wishes to maintain a positive relationship with Century 21.