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RHB : White Horse acquisition "fair and reasonable"
by Cals Wed 15 May 2013, 00:39
RHB : White Horse acquisition "fair and reasonable"
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Tuesday, 14 May 2013 18:20
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KUALA LUMPUR (May 14): WHITE HORSE BHD []’s offer to acquire White Horse Ceramic Industries (Vietnam) Co Ltd (WHV) is “fair and reasonable”,independent adviser RHB Investment Bank Bhd said.
In a circular today, RHB had advised shareholders of White Horse to vote in favour of the US$21 million (RM62.73 million) acquisition.
White Horse's extraordinary general meeting is scheduled to take place on May 29 this year.
RHB said the proposed acquisition of WHV will allow White Horse to further establish its presence in the Indochina markets. This is due to WHV's proximity to these markets.
“The proposed acquisition will enable your group (White Horse) to immediately increase its production capacity through WHV’s existing plant, machinery and equipment, in order to cater for its production backlog, as well as further increases in its output in the future,” said RHB.
On April 3, White Horse announced its proposal to acquire the entire equity interests in WHV from White Horse Investment (S) Pte Ltd for US$21 million cash.
The acquirer said it plans to fund US$16 million of the total price via its internally-generated funds while the balance will be financed via bank borrowings.
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Tuesday, 14 May 2013 18:20
A + / A - / Reset
KUALA LUMPUR (May 14): WHITE HORSE BHD []’s offer to acquire White Horse Ceramic Industries (Vietnam) Co Ltd (WHV) is “fair and reasonable”,independent adviser RHB Investment Bank Bhd said.
In a circular today, RHB had advised shareholders of White Horse to vote in favour of the US$21 million (RM62.73 million) acquisition.
White Horse's extraordinary general meeting is scheduled to take place on May 29 this year.
RHB said the proposed acquisition of WHV will allow White Horse to further establish its presence in the Indochina markets. This is due to WHV's proximity to these markets.
“The proposed acquisition will enable your group (White Horse) to immediately increase its production capacity through WHV’s existing plant, machinery and equipment, in order to cater for its production backlog, as well as further increases in its output in the future,” said RHB.
On April 3, White Horse announced its proposal to acquire the entire equity interests in WHV from White Horse Investment (S) Pte Ltd for US$21 million cash.
The acquirer said it plans to fund US$16 million of the total price via its internally-generated funds while the balance will be financed via bank borrowings.
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