A consortium involving Hotel Properties (HPL), businessman Ong Beng Seng, Temasek Holdings and Mapletree has bid to acquire Singapore Press Holdings (SPH), the city-state’s biggest English-language publisher, the Straits Times reported on Friday.
In an announcement before the market opened, the consortium announced it had on Thursday submitted to the SPH board an offer for all the shares of SPH via a scheme of arrangement and at S$2.10 (US$1.56) per share in cash.
The consortium vehicle, Cuscaden Peak, is 40% held by a HPL unit called Tiga Stars, 30% by a Temasek portfolio company and 30% by the Mapletree group. Mapletree is also Temasek-linked.
Read the full report: Straits Times
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The post Consortium Seeks to Buy Singapore Publisher: Straits Times appeared first on Asia Financial.
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