Super passes 90% threshold, to stop trading at close of buyout offer on April 25

Homegrown food and beverage maker Super Group, a household name for its Owl-brand coffee, said on Tuesday (April 18) it will suspend trading at the close of a Dutch buyout offer on April 25, 2017.
Homegrown food and beverage maker Super Group, a household name for its Owl-brand coffee, said on Tuesday (April 18) it will suspend trading at the close of a Dutch buyout offer on April 25, 2017.PHOTO: ST FILE

SINGAPORE - Homegrown food and beverage maker Super Group, a household name for its Owl-brand coffee, said on Tuesday (April 18) it will suspend trading at the close of a Dutch buyout offer on April 25.

The mainboard-listed company disclosed that acceptances for the offer has crossed the key 90-per cent threshold at which the Dutch tea and coffee group Jacobs Douwe Egberts (JDE) can take the firm private. JDE's vehicle, Sapphire Investments, owns 91.73 per cent of Super as of 5pm on April 17, Super said in a filing with the Singapore Exchange.

In a separate statement on Tuesday, JDE reiterated that it intends to go ahead and delist Super. JDE made the all-cash offer of S$1.30 per share, valuing Super at around S$1.45 billion, last November.

Super shares closed up 0.4 per cent at S$1.30 on Monday.