Simba has entered into a binding share purchase agreement with vendors Keppel Konnect and Konnectivity to acquire 100% of M1. Keppel will receive close to $1.0 billion in cash proceeds for its 83.9% effective stake in M1.
Australian-listed telecommunications company Tuas’ wholly-owned subsidiary Simba Telecom is acquiring M1 from a wholly-owned subsidiary of Keppel for an enterprise value of $1.43 billion.
According to an Aug 11 bourse filing, the acquisition excludes M1’s information and communications technology (ICT) businesses.
