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Master licensor of yogurt maker Tutti Frutti launches RTO of SMTrack

Mimi Sabreena 11:01:00 PM Informasi

KUALA LUMPUR (June 15): SMTrack Bhd announced this evening the proposal to acquire US-based Wellspring Worldwide Ltd for RM310 million through a combination of cash and new shares. The acquisition is to pave the way for Wellspring Worldwide to undertake a reverse take-over (RTO) of loss-making SMTrack.

The RTO exercise will trigger a mandatory general offer for SMTrack shares at 14 sen, according to the announcement to Bursa Malaysia.

Wellspring Worldwide is the global master licensor of “Tutti Fruitti Frozen Yogurt” and “O'My Buns!”.

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