Singapore Exchange Ltd's Subsidiary Acquires 49% Shares In Energy Market Company Pte Ltd
Singapore Exchange Ltd announced that its wholly owned subsidiary Asian Gateway Investments Pte. Ltd. (AGI) has entered into a share purchase agreement (the SPA) with M-Co (The MarketPlace Company) Pte Limited (the Seller) to purchase 4,900,000 ordinary shares (Sale Shares) in the capital of Energy Market Company Pte Ltd (the Target or EMC), representing 49% of the issued share capital of the Target. The Acquisition was completed on August 05, 2012. The consideration payable for the Sale Shares is SGD17,640,000 and a deferred consideration of up to SGD2,000,000 over three years. The consideration, which is payable in cash, was arrived at on a willing seller willing buyer basis. As a result of the Acquisition, the Company now holds a 49% interest in the Target, and accordingly, the Target is an associated company of the Company.
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