Drew acting for Baring Private Equity Asia in its pre-conditional voluntary general offer to acquire Interplex Holdings Ltd for S$450 million
30 Dec 2015
Drew & Napier is acting for Baring Private Equity Asia (“Baring”) in its pre-conditional voluntary general offer to acquire all the issued and paid-up ordinary shares of Interplex Holdings Ltd (“Interplex”) for S$450 million.
The offer is subjected to certain pre-conditions, which include approvals from governmental and regulatory agencies, as well as consent from the holders of Interplex's notes to amend the terms of the notes. If the pre-conditions are satisfied, Baring's offer will be at S$0.82 per share. This is 15.5% higher than the last traded price on 22 December.
Standard Chartered Private Equity Limited and Metcomp Group Holdings, who collectively hold approximately 57.7% of the shares in Interplex, have given irrevocable undertakings to accept the offer if and when made, in respect of all their shares.
Barings is one of Asia's largest private equity firms with funds that have more than US$9 billion in committed capital.
The Drew teams (M&A and Finance) on this deal are led by Directors Gary Pryke, Ralph Lim, Sandy Foo and Maryam Menon.