KKR To Purchase Singapore's Unisteel Tech

June 2008 | Private Equity News Alert

Unisteel Technology, a manufacturer of computer disk-drives parts, has agreed to be acquired by US private equity firm Kohlberg Kravis Roberts (KKR) through its special purpose company incorporated in Labuan, Malaysia, Latch Holding (LHL). LHL will pay SGD1.95 for each Unisteel share, a total of SGD785mn (US$575mn). The agreed price, announced on June 7 in a joint announcement to the Singapore exchange, represents a premium of 39.3% on Unisteel April 15 closing price, the day the stock exchange made an inquiry into a substantial increase in the company's share price.

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