Offerors for Singapore Reinsurance, Procurri declare final prices

Vivienne Tay

Published Thu, Apr 22, 2021 · 05:50 AM

Singapore

THE offers on the table for Singapore Reinsurance and Procurri Corporation will not be increased, the two mainboard-listed companies said separately in statements on Tuesday and Wednesday, respectively.

In a bourse filing late on Tuesday night, Singapore Reinsurance said Fairfax Asia does not intend to increase its 35.35 Singapore cents offer price "under any circumstances whatsoever".

The offer was declared unconditional as at 6pm on Wednesday, as Fairfax Asia had received valid acceptances totalling about 132.6 million shares, resulting in it owning, controlling or agreeing to acquire 51.23 per cent of Singapore Reinsurance's voting rights.

Fairfax Asia, which plans to take Singapore Reinsurance private, is making a voluntary cash offer for the 71.82 per cent of the reinsurer that it …