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Baring launches S$450m offer for precision engineering firm Interplex

BARING Private Equity Asia officially launched its voluntary conditional offer for Singapore-listed precision-engineering firm Interplex Holdings on Monday night, adding that it will turn unconditional when two shareholders fulfil their commitment to sell their shares in Interplex.

The two shareholders - Metcomp Group Holdings, controlled by CVC Capital Partners, and Standard Chartered Private Equity - collectively own 57.7 per cent of Interplex.

Baring will still offer a cash price of S$0.82 per share to all shareholders. This values Interplex at S$450 million.

Baring reserves the right to revise the terms of the offer should there be a new competing offer after Feb 29, said the private equity firm.

Interplex's counter remained unchanged on Monday, closing at S$0.80.