SATS to acquire Singapore Cruise Centre
SATS to buy Singapore Cruise Centre for S$110m.
September 27, 2013
SATS has agreed to buy Singapore Cruise Centre from investment company Temasek Holdings for S$110 million.
Following the acquisition, SATS will own the international cruise terminal and regional ferry terminal at HarbourFront Centre as well as the Tanah Merah and Pasir Panjang ferry terminals through Singapore Cruise Centre, locking its hold on the market by adding these to its Marina Bay Cruise Centre Singapore.
SATS will buy all shares of the cruise and ferry terminal operator through its subsidiaries, SATS Airport Services and SATS-Creuers Cruise Services, which will hold approximately 92 per cent and 8 per cent of Singapore Cruise Centre, respectively, it reportedly mentioned. The deal is subject to shareholder and regulatory approval.