Temasek buying over a telecom company that is over US$6 billion in debt?
http://www.ft.com/cms/s/0/818578e8-a18e-11de-a88d-00144feabdc0.html?nclick_check=1
Financial Times, 15 Sep 2009
Singapore's STT to buy Eircom
ST Telemedia, the Singapore state-owned telecoms group, is poised to make its first acquisition outside Asia after agreeing a deal to buy Eircom, the debt-laden Irish telecoms group.
Eircom Holdings, the Irish company's Australia-based parent, recommended STT's offer to shareholders in June , which gives the Irish group an equity valuation of about A$67m (US$57m). With Eircom's debts, the deal puts a total enterprise value of €4.4bn ($6.4bn) on the Irish group.
The deal has been complicated by a return of capital to shareholders from Eircom Holdings, which used to be known as Babcock & Brown Capital and owns 57 per cent of the Irish group. Eircom Holdings is in the process of returning A$0.80 per share and STT is proposing to make a further payment to shareholders of A$0.135 per share. That means STT is making a cash offer of A$0.40 per share.
Singapore's government has invested over the past decade in telecoms groups in Asian markets through Temasek, its investment arm. UBS advised Eircom Holdings. Macquarie Capital Advisers advised STT.
http://www.btimes.com.my/Current_News/BTIMES/articles/smedia/Article/
Business Times (Malaysia), 15 Sep 2009
Ireland's eircom accepts Singapore Telemedia offer
DUBLIN: Eircom Holdings Ltd, the majority owner of indebted Irish telecoms group eircom, has accepted a takeover offer from Singapore Technologies Telemedia, eircom Holdings said yesterday.
Australia-listed eircom Holdings, formerly known as Babcock & Brown Capital, said in a Sydney stock exchange statement the offer was equivalent to A$1.335 (A$1 = RM3) per eircom share, representing a 20.2 per cent premium to the closing price on June 24 2009.
Eircom shares yesterday were up 2 per cent at A$1.275.
Shareholders will be offered three payment forms by Singapore Technologies Telemedia, a unit of state investor Temasek Holdings: cash, scrip or a combination of the two. - Reuters
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Latest updates @ Singaporenewsalternative.blogspot.com
1. Singapore August box throughput down 13.8% against last year
2. Temasek's STT to buy debt-laden Eircom at 20% premium for US$6.4 Billion
3. Singapore Employers Fire Fewer Workers as Slump Eases
4. SingTel to sell INQ's social networking phone
5. Thai Infocomm Ministry Snubs Temasek's Thaicom Contract Change Request
6. NOL Revenue Plummets on Lower Volume
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8. Alonso knew about Singapore crash - Piquet Snr
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http://www.ft.com/cms/s/0/818578e8-a18e-11de-a88d-00144feabdc0.html?nclick_check=1
Financial Times, 15 Sep 2009
Singapore's STT to buy Eircom
ST Telemedia, the Singapore state-owned telecoms group, is poised to make its first acquisition outside Asia after agreeing a deal to buy Eircom, the debt-laden Irish telecoms group.
Eircom Holdings, the Irish company's Australia-based parent, recommended STT's offer to shareholders in June , which gives the Irish group an equity valuation of about A$67m (US$57m). With Eircom's debts, the deal puts a total enterprise value of €4.4bn ($6.4bn) on the Irish group.
The deal has been complicated by a return of capital to shareholders from Eircom Holdings, which used to be known as Babcock & Brown Capital and owns 57 per cent of the Irish group. Eircom Holdings is in the process of returning A$0.80 per share and STT is proposing to make a further payment to shareholders of A$0.135 per share. That means STT is making a cash offer of A$0.40 per share.
Singapore's government has invested over the past decade in telecoms groups in Asian markets through Temasek, its investment arm. UBS advised Eircom Holdings. Macquarie Capital Advisers advised STT.
http://www.btimes.com.my/Current_News/BTIMES/articles/smedia/Article/
Business Times (Malaysia), 15 Sep 2009
Ireland's eircom accepts Singapore Telemedia offer
DUBLIN: Eircom Holdings Ltd, the majority owner of indebted Irish telecoms group eircom, has accepted a takeover offer from Singapore Technologies Telemedia, eircom Holdings said yesterday.
Australia-listed eircom Holdings, formerly known as Babcock & Brown Capital, said in a Sydney stock exchange statement the offer was equivalent to A$1.335 (A$1 = RM3) per eircom share, representing a 20.2 per cent premium to the closing price on June 24 2009.
Eircom shares yesterday were up 2 per cent at A$1.275.
Shareholders will be offered three payment forms by Singapore Technologies Telemedia, a unit of state investor Temasek Holdings: cash, scrip or a combination of the two. - Reuters
-----------------------
Latest updates @ Singaporenewsalternative.blogspot.com
1. Singapore August box throughput down 13.8% against last year
2. Temasek's STT to buy debt-laden Eircom at 20% premium for US$6.4 Billion
3. Singapore Employers Fire Fewer Workers as Slump Eases
4. SingTel to sell INQ's social networking phone
5. Thai Infocomm Ministry Snubs Temasek's Thaicom Contract Change Request
6. NOL Revenue Plummets on Lower Volume
7. Pirates attempt to board two tankers near Singapore
8. Alonso knew about Singapore crash - Piquet Snr
.
