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Great Eastern Holdings Limited (G07.SI)

SES - SES Delayed price. Currency in SGD
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25.800.00 (0.00%)
At close: 05:06PM SGT
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  • Reuters SG

    UPDATE 1-OCBC amasses over 90% stake in insurer Great Eastern

    Oversea-Chinese Banking Corp now owns more than 90% of Singaporean insurer Great Eastern, an exchange filing by the city-state's second-largest lender showed on Tuesday. OCBC made an offer in May to buy an 11.56% stake in Great Eastern it did not already own for S$1.4 billion ($1.03 billion). Great Eastern will now be forced to suspend trading in its shares after the offer closes on July 12 as the insurer's public float has now dropped below 10%.

  • Reuters SG

    Deals of the day-Mergers and acquisitions

    ** Brazil's Diagnosticos da America (Dasa) and health insurance operator Amil have agreed to combine their hospital businesses, setting up a joint venture with almost 10 billion reais ($1.86 billion) in net revenue, the firms said. ** Privately owned fintech group ION has received a green light from Italy's central bank to buy bad loan and property manager Prelios from U.S. hedge fund Davidson Kempner, two sources with knowledge of the matter said. ** Spain's Sabadell has postponed the completion of the sale of its retailers' payments business to Nexi after becoming the target of a hostile takeover by BBVA, two sources with knowledge of the matter said.

  • Reuters SG

    UPDATE 2-Great Eastern independent directors recommend OCBC $1 bln offer

    The independent directors of Singapore's Great Eastern have been advised to recommended that minority shareholders accept a S$1.4 billion ($1.03 billion) offer from the insurer's top investor Oversea-Chinese Banking Corp (OCBC). Ernst & Young, the financial adviser to the independent directors, said the terms of the offer were "reasonable" and advised them to recommend the deal, Great Eastern said in a statement.