Cuscaden Peak Obtains Final Approval for Singapore Press Offer, Waives Walk-Away Right
Cuscaden Peak Obtains Final Approval for Singapore Press Offer, Waives Walk-Away RightCuscaden Peak获得新加坡媒体报价最终批准，Waives Walk-Right
11:50 PM EST, 12/02/2021 (MT Newswires) -- Cuscaden Peak has received the requisite regulatory approval from the Foreign Investment Review Board in Australia, the final outstanding approval needed for the acquisition of Singapore Press Holdings (SGX:T39).
The consortium -- which is backed by Hotel Properties, property tycoon and Hotel Properties' managing director Ong Beng Seng, and two Temasek-linked units CLA and Mapletree -- also waived its rights to walk away from the offer in the event of a material adverse effect, according to a Thursday disclosure.
Cuscaden Peak is offering to acquire all shares of Singapore Press at SG$2.40 ($1.76) apiece.
Morgan Stanley Asia (Singapore) is serving as the financial adviser to Cuscaden for the transaction.
Price (SGD): S$2.32, Change: S$-0.01, Percent Change: -0.43%
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