Sats in Spore food takeover

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Dec 2, 2008

Sats in S'pore food takeover

Sats said it will pay Temasek $0.93 for each SFI share and make an offer to buy the remaining shares at the same price. -- PHOTO: SATS

SINGAPORE Airport Terminal Services (Sats) said on Tuesday it will buy state investor Temasek Holdings' 70 per cent stake in Singapore Food Industries (SFI) for $334.5 million.

Sats, a unit of Singapore Airlines, said in a statement it will pay Temasek $0.93 for each SFI share and make an offer to buy the remaining shares at the same price.

Both Singapore Airlines and Singapore Food, which both asked for suspension in the trading in their shares, are majority owned by Temasek. -- REUTERS

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