IFA says buyout offer for Singapore-listed Goodpack is fair, reasonable
Published on Jul 30, 2014 9:25 PM
SINGAPORE - An offer to buy Goodpack, the world's largest maker of intermediate bulk containers, has gotten the thumbs up from the appointed independent financial adviser (IFA).
Provenance Capital, the IFA, said the offer by KKR is fair and reasonable in an announcement on July 30.
It said: "We are of the view that the financial terms of the scheme are fair and reasonable and the scheme is not prejudicial to the interests of shareholders. Accordingly, we advise the directors to recommend shareholders to vote in favour of the scheme."
The terms of the proposed acquisition include that all issued ordinary shares in Goodpack will be transferred to IBC Capital, a company held by a fund affiliated with and advised by KKR.
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