Singapore Airlines general offer for Tiger Airways shares which it did not already own closes today. Tiger Airways is set to become a wholly owned subsidiary of Singapore Airlines, as the Compulsory Acquisition threshold was successfully achieved during the Offer period.
Sequence of Events
6 November 2015 – Singapore Airlines launched offer with intention of delisting and privatising Tiger Airways to enable a full integration into the SIA Group.
5 February 2016 – Singapore Airlines stake in Tiger Airways rose above 90% which is required for Tiger Airways to be delisted.
26 February 2016 – Singapore Airlines announced that it owns, controls or has agreed to acquire 95.6% of Tiger Airways.
Shareholders who did not respond to the Offer will receive a letter from Singapore Airlines on the compulsory acquisition of their shares in due course.
