Keppel in $3.4 Billion Deal to Take SPH Private After Media Business is Hived Off (The Straits Times)
August 3, 2021 – Keppel Corp is proposing to acquire Singapore Press Holdings (SPH) through a privatisation offer after the hiving off of SPH’s media business.
The offer, which values SPH at $3.4 billion, will see SPH delisted and become a wholly owned subsidiary of Keppel, the companies jointly announced on Monday (Aug 2). Keppel’s share of the deal is about $2.2 billion.
Under the offer, SPH shareholders will receive 66.8 cents in cash per share, as well as 0.596 Keppel Reit units and 0.782 SPH Reit units per share.
SPH, Keppel Corp and their subsidiaries SPH Reit and Keppel Reit called for trading halts before the stock market opened on Monday.
The scheme is subject to approval by SPH and Keppel shareholders and is also subject to other conditions, including regulatory approvals.
The privatisation offer through Keppel’s wholly owned subsidiary Keppel Pegasus will also see Keppel holding a remaining 20 per cent stake each in SPH Reit and Keppel Reit.
Read more here..
Related News
Keppel Pacific Oak US REIT to Expand Portfolio with Acquisitions of Nashville and Denver Assets
