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BRIEF-Singapore Airlines Says Co, SATS And Dfass To Subscribe for Shares in JV Co KrisShop Pte. Ltd

Reuters SG

Nov 23 (Reuters) - Singapore Airlines Ltd:

* SIA, SATS AND DFASS HAVE TODAY ENTERED INTO A SHARE SUBSCRIPTION AGREEMENT

* AGREEMENT WITH KRISSHOP PTE. LTD.

* FOLLOWING COMPLETION, SIA WILL HOLD ABOUT 70% OF ISSUED SHARE CAPITAL OF JV CO; SATS AND DFASS WILL EACH HOLD ABOUT 15%

* UNDER AGREEMENT, CO TO SUBSCRIBE FOR 2.3 MILLION ORDINARY SHARES, SATS FOR 1 SHARE & DFASS TO SUBSCRIBE FOR 1.6 MILLION SHARES, IN JV CO

* JV CO ENTERS AGREEMENT TO ACQUIRE DFASS SATS BUSINESS OF PROVIDING SERVICES AND MERCHANDISE TO SIA GROUP

* PURCHASE PRICE PAYABLE BY JV CO TO DFASS SATS PTE. LTD FOR BUSINESS TRANSFER IS S$27.5 MILLION Source text for Eikon: Further company coverage: