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Ngiams withdraw acceptance of APSI's offer for IPC stake via mutual consent

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Ngiams withdraw acceptance of APSI's offer for IPC stake via mutual consent

PC Lee Published on Thu, Apr 05, 2018 / 8:54 AM GMT+8

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SINGAPORE (Apr 5): IPC Corp says chief executive Patrick Ngiam and his family have withdrew their acceptance of the offer from Asia-Pacific Strategic Investments (APSI) to buy their stake in the company.

This follows the Mar 2 withdrawal of tycoon Oei Hong Leong's acceptance of APSI's offer for his 32.96% stake in IPC.

On Jan 31, APSI had announced an offer to buy a combined 46.91% stake in IPC from the Ngiam family and Oei.

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