kkr-aims-to-acquire-singapores-mmi-holdings

KKR aims to acquire Singapore's MMI Holdings

KKR makes a play to delist the precision engineering company, valuing the business at $660 million. The price disappoints MMI shareholders.
Private equity firm KKR announced on April 5 that it plans to acquire SingaporeÆs MMI Holdings, a precision engineering firm which makes parts for computer hard-drive manufacturers, valuing MMI at S$1 billion $660 million. Shareholders disappointed by the valuation pushed MMI's shares down by 4%.

The acquisition and subsequent delisting are being effected through a scheme of arrangement. To go through, it requires 75% of MMI shareholders by value to approve the deal at a specially convened meeting. MMI founders, Teh Bong Lim and Tan Choo Pie, and some others have committed to vote their shares in favour of the KKR offer taking total acceptances on hand for KKR to 29.5%. However, KKR...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222