Following the Competition and Consumer Commission of Singapore’s (CCCS) decision regarding the proposed acquisition of Kopitiam by NTUC Enterprise, the social enterprise operator announced on Thursday (20 Dec) that the proposed acquisition is expected to reach its completion in January next year.
The CCCS clarified in a media release the same day that the proposed acquisition “will not lead to a substantial lessening of competition within the relevant markets in Singapore”.
NTUC Enterprise, however, stressed that NTUC Foodfare and Kopitiam “will continue to operate separately with their respective management teams and employees remaining in place,” reported The Straits Times.
It added that business operations will continue as usual, and Kopitiam Loyalty Card users will have no issues with utilising their Kopitiam Cards at all Kopitiam outlets.
NTUC Enterprise’s executive director Kee Teck Koon said: “NTUC Enterprise will continue to work as a group to fulfill our social mission of providing quality essential services and products.
“In particular, with the combined footprint of NTUC Foodfare and Kopitiam, we will be in a better position to make quality cooked food affordable and more widely accessible to all,” he concluded.
Netizens, while appearing to be angered by the announcement, do not seem surprised at CCCS’ decision:
