SINGAPORE: The High Court has approved Temasek Holdings' S$1.18 billion buyout of transport operator SMRT on Monday (Oct 17), in a step forward in the process to delist the company.
The last day of trading of SMRT shares will be Oct 18, with the payout of S$1.68 per share expected to take place by Nov 1.
Shareholders had voted on Sep 29 to let Temasek take SMRT private. A total of 84.8 per cent of the shareholders were in favour of the buyout. Shareholders had also voted to sell SMRT's operating assets to the Government, as part of the New Rail Financing Framework.