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Navis takeover offer for Eng Kong backed by 67% of shareholders

Navis takeover offer for Eng Kong backed by 67% of shareholders

Singapore: Navis Capital Partners takeover offer for container services and logistics company Eng Kong Holdings has been declared unconditional with a 67.19% acceptance level. Navis Capital Partners S$77.44m takeover offer for the Singapore-listed company has been accepted by three of Eng Kong's main shareholders, Eddie Li Hung, Paul Ng Kam Ming and Godfrey Leung Wai Kuen, who hold a combined stake off 66.39% of the firm. The offer of S$0.295 per share will remain open until 28 July. "Navis intends to make Eng Kong its wholly-owned subsidiary and does not intend to preserve its listing status," the company said. [21/06/10]

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