Breaking up SPH is hard to do, says CEO Ng Yat Chung
Add BT as a preferred source
SOME shareholders of Singapore Press Holdings T39 have seized on the company's recent divestment of sgCarMart for S$150 million to support the belief that piecemeal disposals of assets can extract a better value than Cuscaden Peak's all-cash offer of S$2.36 a share.
But this is not necessarily the reality, said SPH's chief executive Ng Yat Chung at a virtual information session organised by the Securities Investors Association (Singapore) last Friday (Mar 11). Details of the proceedings were released on Wednesday (Mar 16).
Ng said that while it would be fair to say that the price tag of S$150 million is "above average" of the valuation range, Cuscaden's all-cash consideration of S$2.36 is around two thirds of the valuation range based on the opinion of the independent financial adviser (IFA) - which set the range from S$1.93 to S$2.57.
TRENDING NOW
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
CDL, Hong Realty outbid 3 other bidders with S$542.4 million offer at S$1,865 psf ppr for Peck Hay plot
Evergrande’s liquidation prompts some PwC partners to shield assets, contemplate divorce
Private equity giant Carlyle can grow bigger but needs to stay on its toes: co-founder David Rubenstein
