Portek confirms delisting date
Port operator Portek International will delist from the Singapore Exchange on 27 September following the completion of an acquisition by Japan's Mitsui, Seatrade Asia online reports. Portek, now a wholly-owned subsidiary of Mitsui, will be “delisted from the official list of the SGX-ST with effect from 9.00 a.m. On 27 September 2011,” Portek said in a statement on Monday.
Mitsui acquired Portek at a price of S$1.40 per share, beating a previous offer of S$1.20 per share by Philippine-based ICTSI.
Portek, which gained listing in Singapore in 2002, operates and manages seven terminals in Algeria, Indonesia, Gabon and Malta.
Mitsui acquired Portek at a price of S$1.40 per share, beating a previous offer of S$1.20 per share by Philippine-based ICTSI.
Portek, which gained listing in Singapore in 2002, operates and manages seven terminals in Algeria, Indonesia, Gabon and Malta.