This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Proposed Acquisition Of Goodpack Limited By KKR

Stocks in this article: KKR

The directors of Goodpack Limited (“Goodpack” or the “Company”) today announced the proposed acquisition of Goodpack by an affiliate of KKR, a leading global investment firm. The proposed acquisition will be effected by way of a scheme of arrangement (the “Share Scheme”), in accordance with the Companies Act of Singapore (Chapter 50) and the Singapore Code on Take-overs and Mergers.

This press release should be read in conjunction with the full text of the joint announcement in relation to the Share Scheme dated May 27, 2014 ("the Announcement"), a copy of which is available on www.sgx.com.

Under the Share Scheme, all issued ordinary shares in Goodpack (“Goodpack Shares”) held by the shareholders of Goodpack (“Goodpack Shareholders”) as at a book closure date to be announced by the Company will be transferred to IBC Capital Limited ("IBC Capital"), a company held by a fund affiliated with and advised by KKR. In consideration for the transfer, such Goodpack Shareholders will be entitled to receive S$2.50 per Goodpack Share in cash. This represents:

  • A premium of 44.7% to Goodpack’s 12-month volume weighted average price ("VWAP") to 18 March 2014, being the day prior to an announcement by Goodpack in respect of a possible transaction
  • A premium of 34.3% to Goodpack’s 6-month VWAP to 18 March 2014
  • A premium of 30.8% to Goodpack’s 1-month VWAP to 18 March 2014
  • A premium of 23.2% to Goodpack’s closing price on 18 March 2014

The figures set out above are based on data extracted from Bloomberg as at the last full trading day immediately prior to the date of the Announcement.

With an outstanding issued share capital comprising 559,748,035 Goodpack Shares (excluding treasury shares), the consideration price values Goodpack at approximately S$1,399 million.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,416.85 +225.48 1.31%
S&P 500 2,021.25 +19.09 0.95%
NASDAQ 4,683.4070 +45.4130 0.98%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs