SIA's privatisation of Tiger could lead to smoother ride for both
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Nisha Ramchandani
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Singapore
AT last year's annual general meeting for Tiger Airways, a shareholder described the beleaguered budget carrier as the stepdaughter who has never been allowed into the main house.
On Friday, Singapore Airlines threw its doors open in a general offer for the shares it doesn't already own in Tiger at 41 Singapore cents per share. In addition, to give investors an avenue to ride on any future growth from the group, SIA threw in an option for accepting Tiger shareholders to subscribe for SIA shares at S$11.1043 apiece. The deal values Tiger at about S$1.02 billion, and SIA plans to invest up to some S$470 million, drawing from its S$4.8 billion cash pile.
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