consortium-bids-for-singapore-sports-retailer

Consortium bids for Singapore sports retailer

MGF Group and Emaar Properties jointly bid for control of listed marketing and distribution company, RSH, valuing the target at $242 million.
March 05, 2007
Dubai-based Emaar Properties and IndiaÆs MGF Group have jointly bid for Singapore listed RSH, the erstwhile Royal Sporting House, valuing the target at S$370 million $242 million.

The offer, at a price of S$1.05 per share, values RSH at S$370 million. The price represents a 12.5% discount to the last traded price on February 28 and a 7% premium to the volume weighted average price for one month prior to the announcement.

The offer is conditional on the acquirers - through acquisition vehicle, Golden Ace - and persons acting in concert acquiring more then 76.076%.

Mohamed Ali Alabbar is chairman of both Emaar Properties and RSH. He owns 25.968% of RSH and...
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