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Singtel completes Trustwave acquisition at lower price

Tuesday, September 1, 2015 - 08:23
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Singapore Telecommunications has completed its purchase of a 98 per cent stake in cyber security firm Trustwave for a lowered price of US$770 million.

SINGAPORE Telecommunications has completed its purchase of a 98 per cent stake in cyber security firm Trustwave for a lowered price of US$770 million.

The acquisition was initially priced at US$810 million, excluding net debt, when the deal was announced in April. Following working capital adjustments at closing, the aggregate consideration was trimmed by US$40 million.

Trustwave chairman and chief executive Robert J McCulen holds the remaining 2 per cent interest in Trustwave.

Singtel shares last traded at S$3.74 on Monday.

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