Analyst Research

Report Title Price
Provider: Thomson Reuters Stock Report
Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Sadif Analytics Prime

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Swiber Holdings Ltd Announces Proposed Disposal Of Entire Shareholding In Kreuz Holdings Limited

Tuesday, 5 Nov 2013 04:26am EST 

Swiber Holdings Limited referred to the proposed acquisition by SEA9 Pte. Ltd of all the issued and paid-up ordinary shares in the capital of Kreuz Holdings Limited (Swiber Holdings Limited holds 320,250,000 shares representing approximately 57.5% of the issued and paid up share capital of KHL) by way of a scheme of arrangement pursuant to Section 210 of the Companies Act and the Singapore Code on Takeovers and Mergers for SGD0.80 in cash for each KHL Share. The Scheme will be subject to certain conditions, including the approval of the Scheme by the shareholders of KHL in compliance with the requirements of Section 210(3) of the Companies Act. In this regard, the Board announced the proposed disposal by the Company of the Relevant Shares to the Offeror pursuant to the Scheme, or in the event the Switch Option is exercised, pursuant to the Offer. Upon completion of the Proposed Disposal, KHL will cease to be a subsidiary of the Company. Pursuant to the Netting Agreement, the Company will receive a net aggregate cash consideration of approximately SGD129.2 million. The Net Aggregate Consideration from the Proposed Disposal will be used as working capital to fund the operations of the Group's core businesses and also to undertake future business expansions, acquisitions and new investment opportunities that may arise in the future.