News

Financial Services

Staff Reporter

, Singapore

Published:

3 years ago

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Temasek makes offer for Sembcorp Marine unconditional

This is due to the completion of the Minimum Acceptance Condition of 50% of shares.

Temasek Holdings’ mandatory general offer (MGO) for Sembcorp Marine has turned unconditional, Morgan Stanley announced.

"Morgan Stanley wishes to announce, for and on behalf of [Startree Investments Pte. Ltd., an indirect wholly-owned subsidiary of Temasek Holdings (Private) Limited], that the Minimum Acceptance Condition of the MGO has been satisfied and the MGO has therefore become and is hereby declared unconditional in all respects," a release read.

The release points to Starfree Investments Pte. Ltd. receiving valid acceptances of the mandatory conditional general cash offers. An aggregate of 1,249,298,123 offer shares, which represents around 3.98% of the total number of issued shares.

This puts the total number of shares owned, controlled or agreed to be acquired by the MGO at 15,880,869,814 shares, or around 50.59%. Included in this are shares held as of 22 September 2021 and the aforementioned aggregate of the MGO.

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