SPH shareholders approve acquisition by Cuscaden Peak

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SINGAPORE: Singapore Press Holdings (SPH) said on Tuesday (Mar 22) its shareholders had approved acquisition by Cuscaden Peak, after it announced it was terminating

Both Cuscaden Peak and Keppel Corp are linked to state investor Temasek, and the deal had sparked a rare bidding war between the two groups, with the former offering S$2.40 per share, or S$3.9 billion, and the latter offering S$2.351 per share or S$3.74 billion for SPH's real estate business.

Cuscaden Peak, a consortium of property tycoon Ong Beng Seng's Hotel Properties and two independently managed portfolio companies of Temasek, clinched the acquisition, SPH said in a statement.

 

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