Keppel acquires SPH for US$2.5 billion

Singapore, 2nd August: Singapore-based media company, Singapore Press Holdings Limited (SPH) announced that Keppel Pegasus Pte. Ltd, a wholly owned subsidiary of Keppel Corporation Limited, has proposed to acquire all the shares of SPH post restructuring of the media business through a scheme of arrangement, with a total consideration of S$3.4 billion (US$2.5 billion).

This represents a 39.9% premium to the last trade price of S$1.5 per share before the strategic review of SPH’s business was announced on 30th March 2021, an 11.6% premium to the last trade price of S$1.88 per share on 30th July 2021, and a 21.4% premium to the 3-month volume weighted average price of S$1.729 per share.