Fraser & Neave Holdings Bhd (F&NHB) said on Aug, 21 2026 that it has signed a Sale and Purchase of Shares Agreement with Tan & Tan Developments Berhad (TTDB) to divest its entire 50 % equity interest in Vacaron Company Sdn Bhd, the joint-venture vehicle it co-owns with Frasers Property Holdings (Malaysia) Pte Ltd.

The consideration will equal 50 % of Vacaron’s adjusted pro-forma net asset value as at the Aug, 21 2026 fulfilment date. The valuation methodology deducts the existing book value of a parcel of land in Petaling Jaya and related development costs, then adds a revised land value of about 110 million Singapore dollars, reflecting both parties’ agreed price.

An interim purchase consideration—based on Vacaron’s pro-forma management accounts due within five business days—will be settled in two tranches: 75 % in cash on completion and the remaining 25 % one year after Vacaron secures the required development order (Acceptable KM). The final consideration will be adjusted following an audit of Vacaron’s accounts, expected within 45 days of receiving the management statements.

Completion is scheduled for the seventh business day after TTDB receives the adjusted pro-forma accounts. Pre-closing steps— including a capital restructuring of Vacaron and conversion of its preference shares—have been fulfilled or mutually waived.