Icon Law LLC acted for Advansory Investment Pte. Ltd. in the Mandatory Unconditional Cash Offer to acquire Olive Tree Estates Limited

Icon Law LLC acted for Advansory Investment Pte. Ltd. (“Advansory”), in the mandatory unconditional cash offer by Evolve Capital Advisory Private Limited, for and on behalf of Advansory, to acquire all of the issued and paid-up ordinary shares in the capital of Olive Tree Estates Limited (“Company”), other than those already owned, controlled or agreed to be acquired by Advansory and parties acting in concert with it, at S$0.12 per share (“Offer”) in compliance with Rule 14 of the Singapore Code on Take-overs and Mergers. The Offer, announced on 10 October 2025, followed Advansory’s acquisition of a controlling stake of 69.49% in the Company from Chiu Teng Enterprises Pte Ltd, Kim Kyoo Chul, and Tham Keng Chuen at S$0.12 per share.

Advansory has expressed its intention to maintain the Company’s listing on the SGX Catalist Board following the close of the Offer, while retaining flexibility to evaluate future strategic options.

The entire transaction is valued at approximately S$14 million.

Our Founder and Managing Director, Soh Chun Bin, Counsel, Bernia Tan and Associate, Jolene Song, acted as legal adviser to Advansory in relation to this transaction.  

For more information, please contact Soh Chun Bin or refer to the media's coverage of the transaction.