High Court approves Temasek's buyout of SMRT

The High Court has approved Temasek Holdings' buyout of SMRT.
The High Court has approved Temasek Holdings' buyout of SMRT. ST PHOTO: KUA CHEE SIONG

SINGAPORE - The High Court has approved Temasek Holdings' buyout of SMRT, bringing the company a step closer to an eventual delisting.

The last day of trading of SMRT's shares will be Oct 18.

Shareholders will be paid for their shares by Nov 1, and SMRT will be delisted thereafter.

 
 

Shareholders had voted on Sept 29 to let Temasek take SMRT private by way of a scheme of arrangement, paving the way for the transport operator to return to state ownership after 16 years.

At an extraordinary general meeting earlier that same day, shareholders also voted overwhelmingly in favour of SMRT selling its operating assets to the Land Transport Authority for about $1 billion.