Keppel to privatise Keppel T&T shares at $1.91 apiece

Shareholders may opt for a clear cash exit if they worry about the M1 buyout offer.

Keppel revealed its move to privatise Keppel Telecommunications & Transportations (Keppel T&T) at $1.91 per share, exceeding the highest closing price of the stock since September 2008.

“The proposed scheme is consistent with Keppel Corporation's strategy to simplify the Keppel group's corporate structure, with a view to improving capital allocation and better aligning Keppel T&T's interests with the rest of the Keppel group,” the firm said in a statement.

According to the firm, the move is designed to delist and privatise the telco arm subject to the approval of the minority shareholders of Keppel T&T in a meeting which will be convened.

Also read: SPH to join Keppel for M1 buyout offer

“As Keppel T&T will remain a shareholder of M1, the scheme gives Keppel T&T's minority shareholders an opportunity to realise their investment in Keppel T&T for cash at a compelling premium to the current share price,” they explained.

Keppel advised minority shareholders of Keppel T&T that are worried of the M1 buyout amidst heating competition to obtain a clean cash exit from Keppel T&T instead if the deal gets its approval.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia