Singtel to divest Amobee for US$239m, expects to net US$197m

SINGTEL : Z74 0% is divesting Amobee to the UK’s Tremor International for an enterprise valuation of US$239 million, above the US media and advertising subsidiary’s carrying value of US$160 million.

The transaction, which excludes Amobee’s e-mail solutions business, will realise some US$197 million in net proceeds and is expected to complete by September this year.

In a bourse filing on Tuesday, Singtel said the transaction …

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