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.
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).
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.