ARA Asset Management Gets Buyout Offer at S$1.78 Per Share....
JL Investment, The Straits Trading Co. and Cheung Kong Property Holdings have joined Warburg Pincus for proposed privatisation and delisting of ARA Asset Management via a scheme of arrangement, co. says in filing.
Special purpose vehicle incorporated for purpose of deal seeking to buy all shares of ARA, other than those held by Straits Trading, JLIG and Cheung Kong Property at a price per share of S$1.78 in cash.
Offerer does not intend to raise offer price.
Deal to complete in 2H next year.
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