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JDE eyes Super Group buyout
Total sale is at around $1.45b.
Singapore mainboard lister Super Group has received a buyout offer by Sapphire Investments BV, an indirect wholly owned subsidiary of Jacobs Douwe Egberts (JDE).
The offer will be at a price of $1.30 per share or a total aggregate consideration of around $1.45b.
Super Group said the commencement of the offer is subject to the receipt of regulatory approvals.
"The offer will be conditional upon Sapphire receiving more than 50% of Super Group's issued shares being tendered in acceptance of the offer. If Sapphire acquires 90% of the issued shares pursuant to the offer, Sapphire intends to exercise its right to compulsorily acquire the remaining shares and privatise Super Group," the group said in a statement.
Commenting on the matter, Super Group Chairperson and Managing Director noted, “We are excited to have JDE as our majority shareholder moving forward as we continue to build on the legacy we have established.”
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