Rotary Engineering gets 46 cents/share offer from controlling shareholder to delist company

SINGAPORE (Oct 2): Rotary Engineering has received a 46 cents cash offer to take the company private from its controlling shareholder, the Chia family group, together with an investment arm of the Oman government.

Rotary Engineering is in the business of engineering design, procurement and construction services for plants and associated facilities. The offer values the company at $261 million.

The offerer is Orochem which is 64.7% owned by Chia SPV. Chia SPV’s shareholders are executive chairman Roger Chia Kim Piow; wife Jenny Wong and brother Chia Kim Chua, who is also an executive in the company.

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