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Buyout offer for CWG closes with Sinway-led consortium holding 97.91% stake
THE buyout offer for real estate group CWG International has closed.
Elidom Investment - the entity making the voluntary cash offer at S$0.195 per share - and its concert parties now control 97.91 per cent of CWG.
Trading in CWG has been suspended with effect from Tuesday, as the total number of shares held in public hands has fallen below 10 per cent.
The offeror said in an exchange filing that it will be exercising its right of compulsory acquisition to buy all shares from shareholders who have not accepted the offer.
Elidom Investment is a takeover vehicle owned jointly by Sinway Investment, H&H Wealth and Floriland Co. It does not plan to keep CWG listed.