YTL Corp announced that YTL Cement, a subsidiary has entered into a conditional sale and purchase agreement with 98 Holdings Pte Ltd for the proposed acquisition NSL a company listed on the Mainboard of the Singapore Exchange Securities Trading Limited for RM792 million.
Upon completion of the proposed acquisition, YTL Cement's shareholding in NSL will be approximately 81.24%. Accordingly, YTL Cement will be required to undertake the Proposed MO pursuant to The Singapore Code on Take-overs and Mergers and the Securities and Futures Act 2001 of Singapore.
The proposed aquisition entails YTL in acquiring 303,484,453 NSL Shares for a total cash consideration of SGD227.6 million or SGD0.75 (equivalent to RM2.61) per NSL Share..
NSL was incorporated on 12 August 1961 as a limited company in Singapore under the name of National Iron and Steel Mills Limited. It has been listed on the Mainboard of the SGX-ST since 1964. It assumed the name of NatSteel Ltd on 31 May 1990 before assuming its present name of NSL Ltd with effect from 15 October 2008. NSL is principally involved in the provision of management services and investment holding while its subsidiaries are principally involved in the manufacturing and sale of building materials, oil and petroleum related products and provision of environmental services.
NSL Group provides, among others, (i) industrialised building system ("IBS") solutions through its precast concrete components and prefabricated bathroom unit ("PBU") and (ii) environmental services. It is one of the leading producers of (i) precast concrete components in Malaysia and Dubai and (ii) PBUs in Finland and one of the leading suppliers of precast concrete components in Singapore. It is also a key player in integrated environmental services in Singapore covering the treatment and logistics services of hazardous industrial wastewater from the chemicals sector and oily wastewater from both land and marine transportation sectors. Its Finnish subsidiary is a significant player in the design and supply of ship fire doors for the cruise ship industry.
The Proposed Acquisition provides a unique opportunity fo the Group's expansion via YTL Cement and its subsidiaries into the IBS sectors in Malaysia, Dubai, Finland and Singapore. The precast concrete components businesses in Malaysia and Singapore are synergistic to YTL Cement Group's cement business while those in Dubai and Finland present a pivotal opportunity for YTL Cement Group to expand its business footprint into new markets. The precast concrete components businesses are expected to facilitate the speed of construction required in rapidly expanding economic segments such as the data centre industry, in addition to supporting the development of innovative solutions across the construction industry.
In addition, the Proposed Acquisition facilitates expansion of YTL Cement Group's environmental services business into Singapore through NSL Group's environmental service business in Singapore with synergistic advantages.
YTL Corp宣布，其子公司YTL Cement已与98 Holdings Pte Ltd签订有条件买卖协议，拟以7.92亿令吉收购新加坡证券交易所主板上市公司NSL。
拟议收购完成后，YTL Cement在NSL的股权将约为81.24％。因此，根据《新加坡收购与合并守则》和新加坡2001年《证券和期货法》，YTL Cement将被要求承担拟议的MO。
拟议的收购要求YTL收购303,484,453股NSL股票，总现金对价为22760万新元或每股0.75新加坡元（相当于2.61令吉）。
NSL 于 1961 年 8 月 12 日作为有限责任公司在新加坡成立，名为国家钢铁厂有限公司。自1964年以来，它一直在新加坡证券交易所的主板上市。它于1990年5月31日改名为NatSteel Ltd，然后改名为现在的NSL Ltd，自2008年10月15日起生效。NSL主要参与提供管理服务和投资控股，而其子公司主要参与建筑材料、石油和石油相关产品的制造和销售以及环境服务的提供。
除其他外，NSL集团通过其预制混凝土构件和预制浴室单元（“PBU”）提供（i）工业化建筑系统（“IBS”）解决方案，以及（ii）环境服务。它是（i）马来西亚和迪拜的预制混凝土构件和（ii）芬兰的PBUs的主要生产商之一，也是新加坡预制混凝土构件的主要供应商之一。它还是新加坡综合环境服务的主要参与者，涵盖来自化学品行业的危险工业废水以及来自陆地和海上运输部门的含油废水的处理和物流服务。其芬兰子公司是游轮行业船舶防火门设计和供应的重要参与者。
拟议的收购为集团通过YTL Cement及其子公司向马来西亚、迪拜、芬兰和新加坡的IBS行业扩张提供了难得的机会。马来西亚和新加坡的预制混凝土构件业务与YTL Cement Group的水泥业务具有协同作用，而迪拜和芬兰的预制混凝土构件业务则为YTL Cement Group将其业务足迹扩展到新市场提供了关键机会。预制混凝土构件业务除了支持整个建筑行业创新解决方案的开发外，预计还将促进数据中心行业等快速扩张的经济领域所需的施工速度。
此外，拟议的收购有助于通过NSL集团在新加坡的具有协同优势的环境服务业务将YTL Cement Group的环境服务业务扩展到新加坡。
