George Quek and Katherine Lee, the founders of BreadTalk, a Singaporean multinational food and beverage corporation headquartered in Paya Lebar, offered to take the firm private at a $438m valuation. "Against the backdrop of a challenging macro and operating environment which had negatively impacted the group’s businesses in China, Hong Kong and Thailand, the offer represents an attractive cash exit opportunity for BreadTalk shareholders to realise their entire investment at a premium to the prevailing market prices, without incurring brokerage and other trading costs," BreadTalk Group.