12:31 AM EST, 12/23/2021 (MT Newswires) -- G. K. Goh (SGX:G41) obtained the required clearances from relevant authorities for the proposed sale of its entire 92% stake in corporate services provider Boardroom to a Temasek-related consortium for about SG$312 million ($229.2 million).
Shares of the payroll services company climbed nearly 4% on Thursday afternoon.
The company said it has obtained approvals from the Monetary Authority of Singapore, the Treasurer of the Commonwealth of Australia, the Hong Kong Registrar of Companies and the Securities Commission Malaysia.
The deal remains subject to the approval of G. K. Goh shareholders, according to a Wednesday disclosure.
Apricus Global, an investment vehicle owned by the consortium comprising Temasek-linked 65 Equity Partners and private equity firm Tower Capital Asia, agreed to pay SG$1.48828 ($1.09) for each Boardroom share pursuant to the offer.
Price (SGD): S$1.16, Change: S$+0.04, Percent Change: +3.57%