HPL, Ong Beng Seng, Temasek units CLA and Mapletree in rival offer for SPH

A CONSORTIUM comprising Hotel Properties (HPL), H15 businessman Ong Beng Seng, and two Temasek-linked entities, CLA and Mapletree, is proposing to acquire Singapore Press Holdings (SPH) T39 at : T39 0%S$2.10 per share in cash.

In an announcement on Friday (Oct 29) before the market opened, the consortium announced it had on Thursday submitted to the SPH board a proposed acquisition for all the shares of SPH via a scheme of arrangement.

The consortium vehicle, Cuscaden Peak, is 40 per cent held by a HPL unit called Tiga Stars, 30 per cent held by Temasek unit CLA Real Estate Holdings, and 30 per cent held by the Mapletree group. Property group Mapletree is also a Temasek-linked entity.