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宣佈，其子公司YTL Cement已與98 Holdings Pte Ltd簽訂有條件買賣協議，擬以7.92億令吉收購新加坡證券交易所主板上市公司NSL。
擬議收購完成後，YTL Cement在NSL的股權將約爲81.24％。因此，根據《新加坡收購與合併守則》和新加坡2001年《證券和期貨法》，YTL Cement將被要求承擔擬議的MO。
擬議的收購要求YTL收購303,484,453股NSL股票，總現金對價爲22760萬新元或每股0.75新加坡元（相當於2.61令吉）。
NSL 於 1961 年 8 月 12 日作爲有限責任公司在新加坡成立，名爲國家鋼鐵廠有限公司。自1964年以來，它一直在新加坡證券交易所的主板上市。它於1990年5月31日改名爲NatSteel Ltd，然後改名爲現在的NSL Ltd，自2008年10月15日起生效。NSL主要參與提供管理服務和投資控股，而其子公司主要參與建築材料、石油和石油相關產品的製造和銷售以及環境服務的提供。
除其他外，NSL集團通過其預製混凝土構件和預製浴室單元（“PBU”）提供（i）工業化建築系統（“IBS”）解決方案，以及（ii）環境服務。它是（i）馬來西亞和迪拜的預製混凝土構件和（ii）芬蘭的PBUs的主要生產商之一，也是新加坡預製混凝土構件的主要供應商之一。它還是新加坡綜合環境服務的主要參與者，涵蓋來自化學品行業的危險工業廢水以及來自陸地和海上運輸部門的含油廢水的處理和物流服務。其芬蘭子公司是遊輪行業船舶防火門設計和供應的重要參與者。
擬議的收購爲集團通過YTL Cement及其子公司向馬來西亞、迪拜、芬蘭和新加坡的IBS行業擴張提供了難得的機會。馬來西亞和新加坡的預製混凝土構件業務與YTL Cement Group的水泥業務具有協同作用，而迪拜和芬蘭的預製混凝土構件業務則爲YTL Cement Group將其業務足跡擴展到新市場提供了關鍵機會。預製混凝土構件業務除了支持整個建築行業創新解決方案的開發外，預計還將促進數據中心行業等快速擴張的經濟領域所需的施工速度。
此外，擬議的收購有助於通過NSL集團在新加坡的具有協同優勢的環境服務業務將YTL Cement Group的環境服務業務擴展到新加坡。
