The Straits Times
The Singapore Exchange Centre on Shenton Way.ST PHOTO: KEVIN LIM
Tay Peck Gek
https://str.sg/JjG3
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Jardine Matheson Holdings Ltd s businesses range from automobiles and hotels to supermarkets all around Asia.
SINGAPORE: Jardine Matheson Holdings Ltd on Monday said it plans to buy the remaining 15% of Jardine Strategic Holdings Ltd that it does not already own for about $5.5 billion to simplify the structure of the sprawling Asian conglomerate.
Singapore-listed Jardine Matheson, whose businesses include construction, aviation and automotive, has offered to pay $33 in cash for each Jardine Strategic share, representing a premium of 20% to the stock s closing price on Friday. This will result in a single holding company with a conventional ownership structure and a further increase in the group s operational efficiency and financial flexibility, it said in a statement.
Singapore stocks began the week on a positive note, with the benchmark Straits Times Index (STI) gaining 1.9 per cent to close at 3,071.16.. Read more at straitstimes.com.
STI inch up 0 03% while rest of Asia dips straitstimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from straitstimes.com Daily Mail and Mail on Sunday newspapers.