Jacobs Douwe Egberts agrees to buy Singapore's Super Group for $1.45 billion
PUBLISHED ONNovember 02, 2016 7:30 PM
SINGAPORE - Coffee company Jacobs Douwe Egberts BV (JDE) has agreed to buy Singapore-listed instant food and beverage firm Super Group Ltd for S$1.45 billion, according to stock exchange filings on Thursday.
JDE is offering S$1.30 per Super share, a premium of 34 per cent to the stock's last traded price of S$0.97 before trading was halted on Oct. 31.
JDE, formed by a joint venture between Mondelez International Inc and D.E Master Blenders, intends to delist the Singapore-headquartered company.
Shareholders with a 60 per cent stake in Super's total issued share capital have agreed to tender all of their shares in acceptance of the offer. Super's products include instant coffee, instant cereals and instant tea mixes.
Evercore Asia (Singapore) Pte Ltd is the financial adviser to Super.