Keppel offers to acquire SPH, excluding media business, in S$3.4 billion deal

SINGAPORE: Singaporean conglomerate Keppel Corp said on Monday it would offer to acquire and privatise Singapore Press Holdings , excluding the newspaper publisher's media business, for S$3.4 billion.

The scheme is subject to approval by SPH and Keppel shareholders, and other conditions including regulatory approvals. SPH's CEO Ng Yat Chung said"the outcome is the result of a strategic review process that has taken place over many months"."We took the first step with the media restructuring to ensure a sustainable future for the media business, while removing its losses from SPH," said Mr Ng.

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