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Singapore Press Holdings Ltd's SPH Interactive International Pte Ltd Acquires 701Sou (Hong Kong) Pte Limited From Star Publications (Malaysia) Berhad


Friday, 16 Nov 2012 04:28am EST 

Singapore Press Holdings Ltd announced that its wholly-owned subsidiary, SPH Interactive International Pte Ltd (“SPHII”), which previously held 65% of the shares in 701Sou (Hong Kong) Pte Limited (“701Sou”), has acquired the balance 35% of the shares from 701Sou's other shareholders. SPHII purchased from Star Publications (Malaysia) Berhad 5,000,000 ordinary shares representing 20% of the issued share capital of 701Sou at the consideration of $2.4 million and from Fung Choi Printing Limited 3,750,000 ordinary shares representing 15% of the issued share capital of 701Sou at the consideration of SGD1.8 million (the “Acquisition"). The aggregate consideration for the Acquisition is SGD4.2 million (the “Aggregate Consideration”). The Aggregate Consideration was wholly satisfied in cash and was funded from SPHII's internal resources. 

Company Quote

2.46
-0.01 -0.40%
4:54am EDT