Allen & Gledhill advised Singapore Press Holdings Limited (“SPH”) on the S$2.2 billion privatisation of SPH by Keppel Pegasus Pte. Ltd. (“KPPL”), a wholly owned subsidiary of Keppel Corporation Limited, by way of a scheme of arrangement.
KPPL has proposed to acquire all the issued and paid-up ordinary shares in the capital of SPH, excluding treasury shares. Upon completion of the scheme of arrangement, SPH will be delisted from the Singapore Exchange.
The scheme is conditional on, among others, the completion of the restructuring of the media business of the SPH group involving the sale of the media business of SPH to SPH Media Trust, a not-for-profit company limited by guarantee.