Keppel offers to acquire SPH, excluding media business, in S$3.4 billion deal
BookmarkSINGAPORE: Singaporean conglomerate Keppel Corp said on Monday (Aug 2) it would offer to acquire and privatise Singapore Press Holdings (SPH), excluding the newspaper publisher's media business, for S$3.4 billion."Successful completion of the scheme will see SPH eventually delisted," said SPH in a media release. SPH will also be a wholly-owned subsidiary of Keppel.
AdvertisementAdvertisementSPH shareholders will receive cash of $0.668, as well as 0.596 Keppel REIT units and 0.782 SPH REIT units per share.The scheme is subject to approval by SPH and Keppel shareholders, and other conditions including regulatory approvals.
"Keppel will hold a remaining stake in SPH REIT and Keppel REIT of approximately 20 per cent each," added SPH.SPH's CEO Ng Yat Chung said"the outcome is the result of a strategic review process that has taken place over many months". headtopics.com
AdvertisementAdvertisement"We took the first step with the media restructuring to ensure a sustainable future for the media business, while removing its losses from SPH," said Mr Ng."The next step was a thorough process to unlock and maximise value for all shareholders for the remaining company.
"With the privatisation offer from Keppel, shareholders now have an opportunity to realise the value of their SPH shares at a premium of 39.9 per cent to the last traded price before the strategic review was announced," he added. Read more: CNA »
Magnitude 6.0 earthquake strikes near Melbourne, tremors rattle southeast Australia
SYDNEY/MELBOURNE — A magnitude 6.0 earthquake struck near Melbourne on Wednesday (Sept 22), Geoscience Australia said, one of the country's biggest quakes on record, causing damage to buildings in the country's second largest city and sending tremors throughout neighbouring states.
'Support our women athletes, not condemn their outfit' - ZuraidaA viral social media post criticised Malaysian runner Azreen Nabila Alias for being “fully covered as if she was running during winter” in the Tokyo Olympics competition. lol. it's her choice. This is the kind of society we're living in right now. When women are criticized for wanting to be modest. but, are celebrated for wearing a bikini. :p Within the rule and it’s her choice. 100 degrees out but whatever.
Tesla leases Toa Payoh industrial building for future showroomSINGAPORE (EDGEPROP) - Tesla Motors Singapore, a wholly-owned subsidiary of US-based electric vehicle maker Tesla Inc, will lease an industrial building at 17 Lorong 8 Toa Payoh from Firmus Capital. The leasing deal will see Tesla occupy the entire property for a total lease term of up to 20 years. (See also: Three-storey building in Toa Payoh up for sale)Firmus Capital recently acquired the Toa Payoh industrial building through its new Firmus Opportunity Fund VCC, in a deal brokered by OrangeTe
Jeff Bezos loses US$13.5 billion after Amazon disappointmentAmazon.com Inc.’s weaker-than-expected second-quarter results has sent Jeff Bezos' fortune tumbling.
Takeda to record 63 billion yen provision, update Q1 results on Irish tax issueREUTERS: Takeda Pharmaceutical Co said on Monday it will record a provision of about 63 billion yen (US$574.56 million) in its financial ...
Square to buy Afterpay for US$29 billion as buy now, pay later boomsSquare will purchase buy now, pay later (BNPL) firm Afterpay Ltd for about US$29 billion in Australia's biggest-ever buyout, creating an online ...
Fintech company Square to buy Afterpay for US$29 billion as buy now, pay later boomsU.S. fintech company Square Inc said on Monday it had agreed to purchase Australian buy now/pay later firm Afterpay Ltd for about US$29 billion.