KKR & Co plans to purchase Singapore's Goodpack Ltd, the world's largest maker of intermediate bulk containers, in a deal that values the company at S$1.39 billion ($1.11 billion), the two companies said on Tuesday. KKR is offering $$2.50 per share, a 6.8 percent premium over Goodpack's last traded price of S$2.34, before the company went on trading halt on May 26.KKR will delist Goodpack on completion of the acquisition. Goodpack founder David Lam is pledging his 32 percent of the company as part of the takeover, the two firms said.The deal is the first takeover of a listed company from KKR's $6 billion Asia fund, the largest private equity fund ever raised for Asia, and comes amid a flurry of dealmaking as private equity looks to invest the estimated $138 billion in dry powder that has accumulated in the region.Private equity backed M&A deals are off to their fastest ever start in Asia, with $26.7 billion in deals announced so far, 21.6 percent more than the whole of 2013, according to Thomson Reuters data.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.2% or $0.07/share to $35.23. In the past year, the shares have traded as low as $31.38 and as high as $38.73. On average, 770256 shares of TRI exchange hands on a given day and today's volume is recorded at 502312.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.1% or $0.04/share to $38.29. In the past year, the shares have traded as low as $33.08 and as high as $42.10. On average, 751449 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 452175.
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