Portek confirms delisting date

Singapore: Port operator Portek International will delist from the Singapore Exchange on 27 September following the completion of an acquisition by Japan's Mitsui.

Portek, now a wholly-owned subsidiary of Mitsui, will be "delisted from the official list of the SGX-ST with effect from 9.00 a.m. On 27 September 2011," Portek said in a statement on Monday.

Mitsui acquired Portek at a price of S$1.40 per share, beating a previous offer of S$1.20 per share by Philippine-based ICTSI.

Portek, which gained listing in Singapore in 2002, operates and manages seven terminals in Algeria, Indonesia, Gabon and Malta. [26/09/11]

Posted 26 September 2011

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