The Straits Times / The Business Times News on OSIM

Osim completes Brookstone takeover

Done deal: Michael Anthony (left), CEO of Brookstone, trying out an Osim massage chair. With him is Ron Sim, Osim's founder and chief executive.

HEALTHCARE group Osim International, which earlier this year led a consortium to take over Nasdaq-listed Brookstone Inc, said yesterday that the acquisition has been completed.

Following the completion on Tuesday, Brookstone's shares will no longer be listed on Nasdaq, said Osim. The price paid for each Brookstone share is US$20, against an original US$20.50, which valued the acquisition at US$456 million.

The takeover consortium includes Temasek Capital (a unit of Singapore investment company Temasek Holdings) and US-based private equity firm JW Childs. Brookstone's management also participated in the deal. An earlier report said Osim's eventual stake in the US nationwide speciality retailer is 51 per cent.

Osim's shares closed unchanged at $1.38 yesterday.