acquisitions

Wilmar in US$275 mil takeover deal to fully acquire food company Goodman Fielder

SINGAPORE (Mar 11): Wilmar International is acquiring the remaining 50% stake in FPW Singapore Holdings it does not already own from Oceanica Developments for US$180 million ($244.55 million).

FPW Singapore Holdings indirectly wholly owns Goodman Fielder and its companies which manufacture, market, and distribute food ingredients and consumer branded food, beverage and related products.

AusGroup to buy housing village & facilities on Australia's Melville Island for $11.4 mil

SINGAPORE (Feb 19): AusGroup, the construction and marine services provider, is acquiring an accommodation village plus facilities worth A$11.8 million ($11.4 million).

The village comprises a 119-man accommodation camp, kitchen, administration building and recreational facilities at Port Melville, Melville Island in the Northern Territory of Australia, supporting the Northern Territory oil and gas industry and marine transport industry.

The acquisition will be made in cash, and comes without mortgage or security interests.

Schroders acquires Thirdrock Group for undisclosed sum

SINGAPORE (Feb 1): Schroders Wealth Management has acquired the wealth management business of Thirdrock Group, a Singapore-based asset manager with a client asset under management (AUM) of about $3 billion.

The value of the transaction was not disclosed.

In a Friday announcement, Schroders says Thirdrock Group will be merged with its existing Singapore business and operate under the Schroders Wealth Management brand.

Best World takes up 12.5% stake in A*STAR biotech start-up for $5.6 mil

SINGAPORE (Jan 14): Best World has agreed to acquire a 15% stake in Celligenics, a biomedical A*STAR spin-off start-up, in two investment phases.  

The first phase will see Best World subscribe for 12.5% of Celligenics shares for $5.625 million, which will be funded by the group’s internal resources.

The second phase will commence 18 months after the first is completed.

Further acquisition deals, Paragon to serve as key re-rating catalysts for SPH REIT

SINGAPORE (Jan 7): OCBC Investment Research and Maybank Kim Eng are maintaining their “hold” calls on SPH REIT with an unchanged fair value estimate and price target of 99 cents and $1.02, respectively.

This comes after the REIT’s 1Q19 earnings results came in line with both research houses’ estimates, with DPU coming in flat y-o-y at 1.34 cents due to the retention of a lower $1.3 million of taxable income available for distribution versus $2.2 million retained in 1Q18.

Artivision seeks extension of long stop date for reverse takeover of e-payment solutions firm

SINGAPORE (Jan 2): Artivision Technologies has signalled a delay in its plans to acquire a 100% stake in e-payment solutions provider Mobile Credit Payment (MC Payment), as the group is now in discussions to extend the long stop date of its acquisition, which was originally due on Dec 31, 2018.

KKR invests in Singapore energy-saving firm in first impact bet

SINGAPORE (Dec 13): KKR & Co. is buying a stake of as much as $45 million in Barghest Building Performance, a Singapore provider of energy saving solutions, in the private equity firm’s first impact investment globally.

It’s investing as part of a Series B fundraising for BBP, which helps companies throughout Asia reduce electricity consumption. The company plans to use the funds to grow its business in the region, invest in new technology and hire more staff, BBP Chief Executive Officer Poyan Rajamand said in an interview this week.

Procurri acquires remaining 49% stake in Rockland JV for US$22 mil

SINGAPORE (Nov 19): Procurri Corporation is acquiring the remaining 49% stake it does not already own in US joint venture (JV) company, Rockland Congruity, for US$22 million ($30.2 million).

The consideration is to be paid in two tranches, with US$12 million due upon completion of the purchase, and another US$10 million in Jan 2020.

Procurri intends to fund the acquisition using internal resources and/or bank loans.

Keppel Infrastructure Trust emerges preferred bidder for Blackstone's Ixom: AFR

SINGAPORE (Oct 30): Keppel Infrastructure Trust (KIT) is reportedly named the official preferred bidder for IXOM, Blackstone’s Australian chemicals business formerly owned by multinational corporation Orica.

According to the Australian Financial Review, a recent JPMorgan auction sealed the deal, which is expected to rack up some A$1 billion ($1 billion).

Potential buyers at the auction were told IXOM would make A$139 million in EBITDA the next financial year to continue the 5.1% per-annum growth since Blackstone acquired the asset in 2015.

More could be in store for Mapletree Commercial Trust after a strong 2Q, say analysts

SINGAPORE (Oct 29): DBS Vickers Securities and Maybank Kim Eng are maintaining their respective “buy” and “hold” calls on Mapletree Commercial Trust (MCT) with target prices of $1.80 and $1.60, post the latest release of MCT’s results for 2Q19.

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