Cuscaden has received all regulatory approvals including from the Monetary Authority of Singapore for the acquisition of the REIT managers. All that is needed is shareholders’ approval for the scheme and distribution-in-specie (DIS) of SPH REIT.
Singapore Press Holdings has announced that its EGM to vote on the choices in the Cuscaden Scheme will be held on March 22 to vote on the privatisation of SPH.
The Cuscaden Scheme offers a choice, of $1.602 in cash and $0.798 in SPH REIT units or all cash at $2.36 per SPH share. Cuscaden has said this will not include the $0.03 per share in dividend paid by SPH, or the $34 million break fee.
