Baring PE Asia offer for Interplex goes unconditional

Singapore

A PRIVATE equity fund's S$450 million offer for precision engineering firm Interplex Holdings has gone unconditional, though the fund may still has some way to go before it can achieve its goal of taking Interplex private.

Baring Private Equity Asia controlled 65.73 per cent of Interplex at the end of Thursday, it said in a Singapore Exchange filing on Friday, adding that the fund plans to seek a voluntary delisting of the company if it and its concert parties control 75 per cent or more of Interplex - or another level that Baring "deems sufficient" - by the close of the offer.