A&G News 7 December 2020
Allen & Gledhill advised Clementine Investments Pte. Ltd. (“Clementine Investments”) and Oversea-Chinese Banking Corporation Limited (“OCBC”) on the S$152 million voluntary conditional cash offer (“Offer”) made by OCBC, for and on behalf of Clementine Investments, for all the shares in Teckwah Industrial Corporation Ltd (“Teckwah”). Clementine Investments is a consortium comprising Chua Seng Tek Holdings Pte Ltd, Lee Kay Huan Holdings Pte Ltd and Airjet Investments Pte. Ltd.
This is the first transaction where shareholders may accept the Offer electronically via Singapore Exchange Securities Trading Limited’s Investor Portal, under a new initiative by The Central Depository (Pte) Limited.
Separate teams from Allen & Gledhill advised Clementine Investments and OCBC on the S$156 million term loan facilities (“Facilities”) to Clementine Investments to finance its general offer for Teckwah.
Advising Clementine Investments on the Offer were Partners Christopher Koh and Wong Yi Jia.
Advising OCBC on the Offer was Partner Christopher Ong.
Advising Clementine Investments on the Facilities was Partner Aloysius Ng.
Advising OCBC on the Facilities was Partner Lim Wei Ting.