Higher offer price justified by better SPH financials, economic environment: Keppel
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KEPPEL Corporation's revised offer price for Singapore Press Holdings (SPH) reflects a change of conditions, stemming from an improved financial performance and the overall economic environment since July, said Keppel's chief executive Loh Chin Hua.
Discussions between Keppel and SPH in recent months have also made various "business synergies" between the two companies clearer, said Loh in a call with reporters and analysts on Wednesday (Nov 10).
"I want to stress that this remains a very attractive and strategic portfolio for Keppel. Yes, (we) have to pay a bit more but this additional consideration is well supported by the improvement in values since July," he said.
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