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[News Article] Temasek to buy out public transport operator SMRT for S$1.18b
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Temasek to buy out public transport operator SMRT for S$1.18b
From: CNA
Date: 20/07/16

SINGAPORE: Public transport operator SMRT looks set to be privatised after Temasek Holdings announced a S$1.18 billion buyout offer at S$1.68 a share Wednesday (Jul 20).

The offer from the Singapore state investment firm values SMRT at approximately S$2.565 billion, Temasek and SMRT said in a media statement. Once the acquisition is completed, SMRT will become a wholly-owned subsidiary of Temasek and will be delisted from the Singapore Exchange.

In their statement, Temasek and SMRT said that privatisation will provide SMRT with "greater flexibility to focus on its primary role of delivering safe and high quality rail service, without short term pressures of being a listed company, in the midst of its transition to a new regulatory framework under the new rail financing framework".

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