Owners of Foreign Worker Dorm Firm TS Group Said to Weigh Sale

Shareholders of TS Group Pte, a Singapore-based provider of purpose-built foreign worker dormitories, are considering selling a controlling stake in the business in a deal that could be worth at least S$500 million ($384 million), according to people with knowledge of the matter.

Dymon Asia Private Equity and TS Group co-founders Shamkumar Subramani and Tome Oh are working with a financial adviser on the potential divestment, the people said, asking not to be identified because the deliberations are private. They may reach out to prospective bidders such as private equity firms and other industry players soon, the people said.

Deliberations ...