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SIA Engineering divests 20% stake in Jamco joint venture for $4 mil

Michelle Zhu
Michelle Zhu1/30/2019 08:04 AM GMT+08  • 1 min read
SIA Engineering divests 20% stake in Jamco joint venture for $4 mil
SINGAPORE (Jan 30): SIA Engineering Company (SIA EC) has sold its entire 20% stake in Jamco Singapore, to the latter’s majority owner Jamco Corporation for $3.97 million in cash, representing a 43% premium to net value.
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SINGAPORE (Jan 30): SIA Engineering Company (SIA EC) has sold its entire 20% stake in Jamco Singapore, to the latter’s majority owner Jamco Corporation for $3.97 million in cash, representing a 43% premium to net value.

Based on the JV’s audited financial statement for FY18, the net asset value of shares disposed of by SIA EC is $2.77 million.

Jamco Singapore was a 20:75:5 joint venture between SIA EC, Jamco and Itochu Corporation. It is based in Singapore and manufactures aircraft galleys, seats and cabin parts.

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