MARKETS

Company briefs

Singapore Post

SINGAPORE Post has sold its 90 per cent stake in hybrid mail business DataPost to Jing King Tech Solutions for $39.3 million.

The divestment supports SingPost's strategy to focus on growing its e-commerce related businesses in the region, the company said in a statement yesterday.

The proceeds will go towards building its capability in e-commerce logistics, a business that now constitutes about 28 per cent of the group revenue.

Last month, it sold its stakes in Novation Solutions and DataPost (HK) for $24.4 million in total.

Serial System

ELECTRONIC component distributor Serial System's wholly-owned subsidiary SCE Enterprise has taken a $3.5 million stake in satellite communications equipment provider Global Invacom.

SCE has acquired 12 million treasury shares at 29 cents each of mainboard-listed Global Invacom, giving SCE a 4.5 per cent stake.

Global Invacom announced on June 2 its plan to acquire Skyware Global, a US manu-facturer of Very Small Aperture Terminals for the satellite communications industry, for up to US$11.6 million (S$16 million).

Amtek Engineering

CVC Capital Partners and Standard Chartered Private Equity are exploring a sale of their majority stake in Amtek Engineering, which makes precision-engineered components, according to a Bloomberg report.

They own a 58 per cent stake valued at $224 million at the current share price. Amtek bought US precision-tool maker Interplex Industries for about US$210 million last year.

A version of this article appeared in the print edition of The Straits Times on June 20, 2015, with the headline 'COMPANYBRIEFS'. Print Edition | Subscribe