Procurri reveals PE firm New State Capital Partners as interested offeror

SINGAPORE (Feb 4): Procurri Corporation has received a non-binding letter of intent (LOI) from New State Capital Partners LLC for the proposed acquisition of all the shares of the company -- other than treasury shares and shares held by substantial shareholder Irrucorp -- via a scheme of arrangement.

However, Procurri said in a filing this morning has not accepted the LOI and therefore has not started exclusive discussions with New State in relation to the proposed acquisition.

Procurri is the provider of IT lifecycle services, data centre equipment and genuine refurbished, pre-owned or new-in-box IT products. New State is a private investment firm which operates in the United States and focuses on investments in business, healthcare and industrial services industries.