Singapore Airlines declares Tigerair offer unconditional

It also extended the offer closing date yet again.

Singapore’s flag carrier has provided more certainty for its shareholders as it waives the condition that required it to own more than 90% of Tiger Airways by the close of the offer.

According to a statement by Singapore Airlines (SIA), shareholders who have already accepted the offer will be paid the offer price of $0.45 per share and granted the option to subscribe for SIA shares at $11.1043 per share within 10 days.

SIA also reiterated in the statement that the final offer price will not be raised further, and that it has extended the closing date to 5 February 2015 at 5:30pm.

“We wish to thank Tiger Airways shareholders who have already accepted the Offer. With the Offer being declared unconditional, we are providing certainty that these shareholders will be paid the Final Offer Price of S$0.45 for their shares within 10 days,” SIA CEO Goh Choon Phong said.

The statement adds that the final offer price values Tiger Airways at $1.125b.