Sembcorp pushes municipal growth strategy
- From: Vol 11, Issue 8 (August 2010)
- Category: Companies
- Region: Asia
- Country: Singapore
- Related Companies: Cascal and SembCorp Utilities
The acquisition of Cascal has allowed the Singapore-listed developer to diversify away from its traditional industrial customer base. EVP for business development Tan Cheng Gua talks to GWI about the rationale behind the move.
The delisting of Cascal from the New York Stock Exchange on 5th August marked a major milestone in a protracted takeover battle by Sembcorp, and will transform the Singapore-listed company into a global water service provider.
The deal values Cascal’s equity at $206 million – equivalent to 1.3 times fiscal 2010 revenues – and came about after former majority owner ...
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