Mergers & Acquisitions (M&A)

AA REIT acquires Boardriders APAC HQ in Queensland for $37 mil
SINGAPORE (May 15): The manager of AIMS APAC REIT (AA REIT) announced it is acquiring Boardriders APAC HQ in Queensland, Australia, from GSM Rocket Australia for a consideration of A$38.5 million ($36.9 million). The property is acquired with a headline yield of 7.8%, a lease term of 12 years and annual rental escalation of 3.0%. The headline yield is derived from the first year net property ...
First Sponsor to acquire disputed former Grand Hotel Puccini building in Milan for $14.4 mil
SINGAPORE (Jan 25): First Sponsor’s indirect wholly-owned subsidiary FS Milan Property is acquiring a former hotel building in Italy for 9.3 million euros ($14.4 million) from Fondo Kona, a real estate close-ended alternative investment fund controlled by Europe’s BNP Paribas. Located at 33 Corso Buenos Aires in north-eastern Milan, the six-storey vacant and unleased property was formerly ...
Singapore stocks with high yield, low expectations are what Credit Suisse prefers for the year
SINGAPORE (Jan 8): Credit Suisse is recommending Singapore investors stick with a portfolio of quality, high-yield stocks and stocks with low embedded expectations to ride out any volatility in 2019 while positioning for a market recovery. And while the market’s upward momentum this year may be dulled by dimmer economic and corporate earnings growth outlook, the Swiss investment bank says ...
Temasek acquires minority stake in lung-delivered drug system Aerogen
SINGAPORE (Nov 8): Temasek has acquired a minority stake in Ireland-based designer and manufacturer of aerosol drug delivery systems, Aerogen, through the purchase of a secondary share interest, according to media reports. However, the financial terms of the transaction were not disclosed. John Power, founder and CEO of Aerogen, says, “We are excited to realise the growth opportunities ...
Health Management International's expansion into ambulatory care centre keeps it at 'buy'
SINGAPORE (May 16): Maybank Kim Eng is maintaining its “buy” call on Health Management International (HMI) with a target price of 80 cents. The group on May 14 announced that it is committing $40 million to acquire a 62.5% stake in StarMed @ Farrer Square, which owns Starmed Specialist Centre, a new proposed day-surgery and multi-disciplinary medical centre. See: HMI commits $40 mil to ...
RHB starts Kimly at 'buy' on exciting growth prospects
SINGAPORE (Apr 16): RHB is initiating its coverage on Kimly, the operator of local coffee shops and food courts, with a “buy” and a 43 cents target. That's because Kimly's F&B mass-market business is defensive in nature and is accompanid by has rich cashflows. Since FY14, the group has reported stable gross margins of more than 20% and is expected to stay around this region going ...
Charisma Energy acquires operators of mini-hydro power assets for $2.5 mil
SINGAPORE (Apr 2): Charisma Energy says that its subsidiary Green Power SA is acquiring Saems Capital II BV and Blue Maven Asia Energy for a consideration of $2.46 million from vendor History Maker. The group will be paying the consideration by way of the issue and allotment of about 490.3 million shares at 0.5 cent each, which will be issued and allotted to History Maker. Saems Capital II ...
Venture Corp on track for strong finish in FY17: CIMB
SINGAPORE (Feb 8): CIMB is maintaining its “add” call on Venture Corporation with a target price of $29.13. Preliminary estimates released by the US government showed that the nation’s output increased at an annual rate of 2.6% in 4Q17 and since more of the group’s customers are US corporates, the research house believes that the group is on track for a strong FY17. Meanwhile, ...
Singapore Medial Group a 'buy' as it builds IVF arm
SINGAPORE (Feb 6): RHB is maintaining its “buy” call on Singapore Medical Group (SMG) with a target price of 79 cents. This came on the back of the group entering into a joint venture (JV) with South Korea’s CHA Medical Group to enter the Australian market by acquiring a 65% stake in City Fertility Centre (CFC), Australia’s fourth largest in vitro fertilisation (IVF) clinic ...
Broadcom to raise Qualcomm bid in push for talks
(Feb 5): Broadcom plans to unveil a new approximately US$120 billion ($158.3 billion) offer for Qualcomm on Monday, aiming to ratchet up pressure on its US semiconductor peer to engage in negotiations, people familiar with the matter said on Sunday. The move comes ahead of a Qualcomm shareholder meeting scheduled for March 6, when Broadcom is seeking to replace Qualcomm’s board of directors ...