Navis Closes Offer on Adampak, Now Controls 98.4 Percent of Singapore Firm (Asia)
Source: The Edge Singapore | Author: Sunita Sue Leng
Navis Capital Partners’ cash offer for Adampak, a Singapore-based manufacturer of precision components, has closed. Navis, which first announced the cash offer valuing Adampak at SGD110.7 million (approximately US$88 million) on 2 April 2012, now controls 98.4 percent of the company. The offer price of SGD0.42 per share represented an approximately 50 percent premium to Adampak’s 12-month weighted share price. The acquisition of Adampak is Navis’ third investment in as many months.