Cuscaden Peak’s S$2.9 billion competing takeover acquisition of Singapore Press Holdings Limited by way of a scheme of arrangement

Acted for Cuscaden Peak Pte. Ltd., a company formed by a consortium of investors comprising Hotel Properties Limited, CLA Real Estate Holdings Pte Ltd and Mapletree Investments Pte Ltd, for the purposes of undertaking a proposed acquisition for all the issued ordinary shares in the capital of Singapore Press Holdings Limited (“SPH”) by way of a competing scheme of arrangement (“Cuscaden Scheme”), that values SPH at up to approximately S$3.9 billion. The Cuscaden Scheme marks the first takeover for an SGX-ST listed company by way of competing schemes of arrangement. Partners Sandy Foo, Favian Tan and Tricia Teo led the transaction, alongside Partner Lee Xin Mei who acted on the financing aspects of the transaction; Partners Lee Eng Beng, Chew Xiang and Priscilla Soh who acted on the court-related aspects of the transaction; as well as Partners Kala Anandarajah and Tanya Tang who acted on the regulatory aspects of the transaction.