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TIH unit acquires portfolio of assets from Republic Technologies for S$62m
TIHT Investment Holdings II, an indirect wholly owned subsidiary of mainboard-listed private equity fund TIH, entered into a share purchase agreement on April 29 with Republic Technologies and its other related corporations to acquire a portfolio of assets for around S$62 million.
This will be payable partly in cash, financing and via issuing shares in TIHT II.
The portfolio comprises interests in Pacific Road Resources Fund, Aloe Environment Fund II, energy technology provider Carbon Energy (CE) as well as medical device developer and distributor WhiteRock Medical Company.
Pacific Road is a private equity fund providing expansion and buyout capital for mining projects, mining related infrastructure and mining services companies while Aloe Environment makes investments in sectors including clean and renewable energy, waste recycling and emission controls.
After the acquisition, TIHT II will be 55 per cent owned by Killian Court, a wholly owned subsidiary of TIH, and 45 per cent owned by Republic.