Reuters SG
Pegasus Asia, a Singapore-based special purpose acquisition company backed by alternative asset manager Tikehau Capital, said on Tuesday that it is still in discussions over a possible business combination. The shell company said "any transaction will require the execution of definitive binding legal agreements on mutually acceptable terms, due diligence, regulatory and third party approval, among other conditions precedent." The announcement to the local stock exchange came after Bloomberg reported earlier Tuesday that Pegasus Asia was nearing an agreement on a merger with satellite internet company Kacific Broadband Satellites.