Singapore: Ahead of a planned takeover by SEA9, Kreuz Holdings has been given the green light to delist from the Singapore Stock Exchange.
In November last year, SEA9, a subsidiary of The Headland Private Equity Fund, offered $358.4m to take over the subsea services provider which is 57.5% controlled by Swiber Holdings.
The takeover is expected to allow Kreuz to continue to develop and execute upon new growth initiatives, such as investing in new vessels to support the business, Kreuz said in a release two months ago. [07/01/14]
Kreuz in S$446m management-led buyout