SINGAPORE – Keppel Corp is proposing to acquire Singapore Press Holdings (SPH) through a privatisation offer after thehiving 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). Keppels 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 shareholdersand is also subject to other co…
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