Keppel Pushes Forward with Arbitration Proceedings Against Singapore Press After Termination of Takeover Agreement
Keppel Pushes Forward with Arbitration Proceedings Against Singapore Press After Termination of Takeover Agreement吉宝在收购协议终止后推进对新加坡出版社的仲裁程序
10:43 PM EST, 02/09/2022 (MT Newswires) -- Keppel (SGX:BN4) filed a notice with the Singapore International Arbitration Centre to commence arbitration proceedings against Singapore Press Holdings (SGX:T39) after the latter decided to terminate the implementation agreement relating to Keppel's takeover offer.
SPH gave notice to Keppel of the termination and said that it will allow its shareholders to vote on the rival bid from Cuscaden Peak, according to a late Wednesday filing.
However, Keppel said it does not agree with the attempted termination as SPH is obliged to continue with the implementation of the Keppel scheme in accordance with the terms of the agreement.
Meanwhile, SPH has vowed to "vigorously defend its position in the appropriate forum" against the arbitration.
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