Global Invacom cancels $280 mil acquisition of Tactilis due to 'difficulties' meeting agreement terms

Michelle Zhu
Michelle Zhu4/22/2019 7:2 AM GMT+08  • 1 min read
Global Invacom cancels $280 mil acquisition of Tactilis due to 'difficulties' meeting agreement terms
SINGAPORE (April 22): Global Invacom, has cancelled its proposed US$200 million ($280 million) acquisition of Tactilis due to “difficulties in fulfilling all of the conditions precedent” in the sale purchase agreement (SPA) it signed with the vendor l
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (April 22): Global Invacom, has cancelled its proposed US$200 million ($280 million) acquisition of Tactilis due to “difficulties in fulfilling all of the conditions precedent” in the sale purchase agreement (SPA) it signed with the vendor last year.

With the termination also comes the cessation of 5% coupon-rate convertible notes meant to be issued by Tactilus.

At the same time, the proposed reverse convertible note (RCN) issuance agreement had also lapsed on Jan 22 this year as conditions for the closing of the first sub-tranche of the Tranche 1 RCN Notes were not fulfilled.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.