Battle for SPH: Cuscaden wants both scheme meetings to be held at same time

Published Tue, Nov 16, 2021 · 06:15 PM

BOTH the scheme meetings in relation to the proposed privatisation of Singapore Press Holdings (SPH) should be held at the same time for shareholders to decide, said Cuscaden Peak on Tuesday (Nov 16).

The Cuscaden consortium - comprising Hotel Properties (HPL), its managing director Ong Beng Seng, as well as two Temasek-related entities CLA and Mapletree - is battling Keppel Corporation to acquire SPH, with both offerors seeking to do so via a scheme of arrangement.

According to the indicative timeline set out by SPH, the scheme meetings will take place sequentially. Shareholders will vote on Keppel's scheme first, by Dec 8.

They would be allowed to vote on the Cuscaden scheme only if the Keppel scheme is voted down, and the indica…