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PE firm Northstar offers S$331m for Innovalues
Shareholders can choose full cash or combination of cash and shares subject to cap; offeror plans to delist the precision manufacturer
Add BT as a preferred sourcePublished Wed, Oct 26, 2016 · 09:50 PM
Singapore
PRIVATE equity firm Northstar Advisors has launched a S$331.4 million takeover offer for Innovalues Limited via a scheme of arrangement - a deal that heralds the delisting of yet another listed company.
Offering to acquire Innovalues shares at S$1.01 each via special purpose vehicle Precision Solutions Limited (the offeror), Northstar said on Wednesday that this provides an opportunity for Innovalues shareholders to realise their investments at a premium of 19 per cent over the one-month volume weighted average prices (VWAP) before April 7.
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