Innovalues set for delisting after shareholders approve PE firm takeover

Singapore

ANOTHER one bites the dust. Precision machine parts maker Innovalues is set to be delisted from the Singapore Exchange mainboard in March this year, after its shareholders gave the green light to a S$331.4 million takeover by private equity firm Northstar Advisors.

About 95 per cent of 141 shareholders present and voting at a shareholders' meeting on Wednesday morning approved the acquisition, which will be done via a scheme of arrangement, the group said in a Singapore Exchange filing after market close on Wednesday.