GP Industries to offer S$1.30 per share for battery unit

Singapore

GP Industries Limited plans to launch a voluntary conditional cash offer for GP Batteries International at S$1.30 per share in a bid to privatise and delist the 64.88 per cent subsidiary.

The offer will be made if the pre-condition of obtaining approval from shareholders of Hong Kong-listed Gold Peak Industries (Holdings) - which owns 85.47 per cent of the offeror GP Industries - is fulfilled at a general meeting within six months.