Goodpack drops the takeover bomb, confirms sealing the deal with KKR

Post takeover talks of 2 months.

Goodpack's shares are in for a joyride of new highs as it revealed the news that the 2-month takeover talks with big-time private equity firm KKR has come to a complete close with an offer price of $2.50.

According to OSK DMG, after a lengthy period of two months when takeover talks first surfaced, Goodpack last night announced a takeover by private equity firm KKR via a scheme of arrangement, at an offer price of SGD2.50.

Earlier, the company had also held talks with other PE firms such as Blackstone and Carlyle, as well as logistics player Brambles.

Here's more from OSK DMG:

The deal with KKR values Goodpack at SGD1.4bn, representing 19.4x FY14E on our estimates. The offer price is at a 6.8% premium to the last traded price of SGD2.34 and a premium of 23-45% over the 1-month, 3-month, 6-month and 1year volume-weighted-average-price to 18 March 2014, just before the company announced that it is in talks with potential bidders.

The takeover is conditional upon, among other conditions, the approval of the Scheme by 75% of shareholders in a court meeting.

The latest buyout, if successful, will see founder David Lam walk away with a bounty of SGD450m for his 32% stake.

He and his management team will be able to continue to participate in Goodpack’s future growth via management equity arrangement with KKR.

Goodpack’s other major shareholders include Capital Group (5.5%), Universities Superannuation (5.1%) and Wong Ngit Liong (6.2%).

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia