Singapore court sanctions Temasek’s scheme of arrangement for SMRT

SINGAPORE (Oct 17): SMRT Corporation on Monday announced that Singapore’s High Court has sanctioned the scheme of arrangement for Temasek Holding’s buyout of the transport operator through its wholly-owned subsidiary.

SMRT had submitted the application to the High Court to sanction the scheme after shareholders holding 92.89% of scheme shares voted in favour of Temasek’s buyout offer of $1.68 per share on Sept 29.

Following this, the scheme shall become effective and binding upon the lodgement of the court order with ACRA.

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