KKR in talks to buy Oceanus

The deal to privatise the abalone farmer is worth ~US$500mln (S$612.5mln), according to various sources.

Talks of a sale are reportedly underway, with the end goal of relisting Oceanus in HKEx in the future.

In a statement, DMG Research said an anonymous source mentioned that KKR has lined up financing of US$300-400mln from a group of banks to fund the purchase of Oceanus.

In response to the news announcement, Oceanus share price rose 14.6% to S$0.275.

The abalone farmer confirmed it has been in discussions with various parties involving potential transaction of Oceanus’ shares.

In response to the news report regarding KKR’s potential acquisition, Oceanus’ shares were halted on 29 Apr 2011. Subsequently, on 30 Apr 2011, Oceanus announced that it has been in early stage confidential discussions with various parties in relation to a possible transaction involving its shares.

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