North American firm buys Asian management

Is this a first?

In a deal that shows that MA can go into Singapore as well as out of it, the worlds third largest electronics manufacturing services EMS company, Celestica, has bought Singapores Omni Industries. With a deal struck 50% in shares and 50% in cash, the total consideration is S$1.6 billion $880 million.

What is most encouraging about the deal is that the Canadian company has bought Omni as much for its management expertise as anything else.

The primary attraction of this deal was getting the management, says Anand Kumar, a Morgan Stanley executive director, and an advisor to Omni.  This is a management team that has built up a...

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