SembCorp gets MBO ball rolling

Singapore conglomerate SembCorp Industries announces its first divestment through an MBO, backed by Crosby.

There are many sectors of Asia's financial markets that have failed to live up to their potential and the Singapore management buy out MBO market is a perfect example. However a deal announced last week by SembCorp Industries shows that these deals can happen with willing buyers, sellers and private equity backers.

The deal saw SembCorp Parks Holdings selling its buildings materials companies to a new company called T.M. Tarah. This company comprises Crosby Asset Management 90% and the existing management of Chew Song Kim 6% and Martin Teo 4%. T.M. Tarah is buying thirteen separate companies as well as the loans and advances of these companies for S$39 million...

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