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https://www.scmp.com/business/companies/article/3026741/hong-kong-stock-exchange-operator-makes-bid-buy-london-stock

A Temasek Holdings Pte unit offered to buy Olam International Ltd. (OLAM) in a bid that values the commodity trader at S$5.3 billion ($4.2 billion), about 16 months after it helped stave off an attack by short-seller Carson Block. Breedens Investments Pte is offering S$2.23 cash per share, the Singapore-based company said today in a statement, a 12 percent premium to Olam’s last closing price of S$1.995. It is also making an offer for Olam’s outstanding bonds and warrants. Temasek, Singapore’s state-owned investment firm, became the largest investor in Olam, one of the world’s top three coffee and rice traders, after concerns raised by short-seller Block in November 2012 caused the stock to plummet. The offer has the support of Olam’s founding family and management, with some agreeing to sell a proportion of their shares to the bidding group. “Temasek is already a large holder of Olam so they probably know the business better than everybody else,” said Robert Aspin, the Singapore-based head of equity investment strategy at Standard Chartered Plc. “The fact that they are willing to pay a premium is indicative of the value that they see in the underlying business.” Olam has rallied 30 percent this year through March 12 in Singapore, compared with a 2.2 percent decline in the benchmark Straits Times Index. The stock, which closed as low as S$1.395 after Block’s attack, reached a near 17-month high of S$1.995 on March 12. An employee walks past the logo of Temasek Holdings Pte at the company's headquarters in Singapore. Group Support Breedens also has an agreement with a group including Kewalram Singapore Ltd., Olam’s founding family shareholder, and 10 Olam executives including Chief Executive Officer Sunny Verghese to not tender their shares until six months after the offer closes, Breedens said in a statement. All totaled they hold 52.5 percent ofOlam shares. Kewalram and three members of key management have agreed to sell a 5.6 percent stake in Olam in acceptance of the offer. Credit Suisse Group AG, DBS Group Holdings Ltd., and United Overseas Bank Ltd. advised Breedens. Breedens doesn’t plan to make any major changes to Olam’s businesses or terminate employees. It also intends to keep Olam as a listed company, unless the minimum float requirements aren’t met, it said. “We believe a successful offer will provide Olam with a stronger and more stable shareholder base to support Olam’s strategy and business model for the long term,” Breedens Director David Heng said in the statement. “We have invested in Olam over the years, and share a common investment philosophy to invest and build for the long term.” Block’s Bet Block said in November 2012 he was betting against Olam because he questioned the trader’s accounting methods and asset purchases, pushing the stock to a more than three-year low in December 2012. Olam rejected the assertions by Block and his research firm Muddy Waters LLC. Block today declined to comment. “Olam has been oversold following the issues raised by Muddy Waters and has bounced back strongly as the company addressed those concerns,” Alan Richardson, a Hong Kong-based money manager at Samsung Asset Management, said by phone before the announcement. As well as adding Olam shares after the Block allegations, Temasek also backed a $750 million bond sale by the commodity trader. Olam said in December 2012 it planned to sell bonds and warrants to address any “lingering doubts” about its finances. The investment firm agreed at the time to buy any rights not taken up by other investors. Olam is a supplier and processor of agricultural products and food ingredients across 16 platforms in 65 countries. Temasek holds 24.6 percent of Olam through its units Breedens and Aranda Investments Pte, and the founding family has a 20.2 percent stake, according to today’s statement.

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http://www.sgcarmart.com/news/article.php?AID=4894 The Trans-Eurokars Group, owned by Mr Karsono Kwee, will take over the Mazda franchise in Singapore Trans-Eurokars will start running the Mazda franchise as early as Nov 1 or latest, by Dec 1. The Group will operate out of Mazda's current showroom at 315 Alexandra Road, next to Ikea, until October next year to fulfil a lease requirement. The showroom will then move to 23 Leng Kee Road, where the Opel showroom is located, before a dedicated Mazda facility is built, the paper added. Mr Kwee told the paper that a flagship Mazda building will be built at No. 5 Leng Kee Road. Currrently location also houses the Trans-Eurokar office and the Saab showroon. The businessman admitted that it is not easy selling Japanese cars in the current climate that is dominated by premium German brands. But Mr Kwee expressed hope that Mazda has a long-term future, what with new models coming here next year. These include the CX-5 crossover in 2012's first quarter, the Mazda5 and the CX9. The Mazda franchise has been held by the Phng family for 55 years. Troubles started when a shrinking supply of COEs and strong competition reduced it sales. Mr Kwee revealed that they aim to sell 800 to 1,000 Mazdas a year. The Group runs five other car franchises here namely Porsche, Mini, Rolls-Royce, Saab and Opel.

Yes, Volvo is now officially Chinese. Geely, or the Zhejiang Geely Holding Group Company Limited in full, has basically made good on its offer to purchase Volvo from Ford. The initial deal announced in late March was finally concluded very recently. Geely had initially agreed to purchase Volvo from Ford at a reasonable sum of US$1.8billion, of which Geely has already settled the initial US$200million deposit in March, now US$1.3billion and the remaining balance by the end of this year. Stefan Jacoby, previously CEO of Volkswagen Group of America, takes over from Stephan Odell as CEO of Volvo, who is still attached with Ford and basically moves to Ford of Europe. Geely head honco/chairman Li Shufu will become Volvo's new Chairman. Mr. Li Shuf had stated that "This famous Swedish premium brand will remain true to its core values of safety, quality, environmental care and modern Scandinavian design as it strengthens the existing European and North American markets and expands its presence in China and other emerging markets." While ownership is by Geely, its headquarters and manufacturing facilities will still be in Sweeden and Belgium. As stated earlier, Ford will continue to supply components and engines to Volvo for now. So I would presume there would be no change in actual manufacturing as it basically will follow Ford/Volvo manufacturing practices instead of going Geely all the way. Cars like the new V60 show that quality is still retained. By the looks of it, and as I stated in early April while reporting the initial sale, Volvo will probably do as well as Jaguar, which is now Indian (in a way), in the hands of Tata.

[extract] We have recently been reading about Saab's sale to Spyker from General Motors. Now the other, purportedly more famous Swedish car company Volvo has officially been sold to China's Geely. Volvo is most famous for their brick-like 240 series vehicles, the P1800 coupe (due to it being featured in the television series 'The Saint' in the 1960s) and very fast semi-brick like 850T5 wagons that actually raced in the British Touring Car Championship (BTCC) in the 1990s. Ford, the previous owners of the brand has sold the company for

From MSN news: China's Geely set to sign Volvo takeover Chinese carmaker Zhejiang Geely Holding is set to imminently seal a deal to buy troubled Volvo from US auto giant as Volvo unions Saturday gave a thumbs up following earlier fears of job losses. If there are no 11th-hour glitches, the signing will take place on Sunday afternoon when a press conference is scheduled or on Monday, a Volvo spokesman told AFP. "A press conference has been scheduled for Sunday afternoon with officials from Ford and Geely but this does not mean that it will be signed on Sunday, it could be Monday," Per-Aake Froeberg said Saturday. The deal will be signed by Ford's chief financial officer Lewis Booth and Geely chairman Li Shufu at Volvo's headquarters in Torslanda in the country's south. Volvo unions had earlier voiced opposition to the deal on grounds that it was vague on expansion plans and possible layoffs. Three Volvo unions this week pressed for details "on the capital that will finance Volvo's daily activities, investment on future projects and the production target of 600,000 vehicles by 2015." But on Saturday they pronounced themselves satisfied. "We have received all the information that we were looking for," Glenn Magnusson, head of the Ledarnas union, told Sweden's TT news agency after two meetings with US-based Ford and Geely management in Gothenburg on Saturday. "As far as the unions are concerned, we are in favour of the agreement." Magnusson did not provide details on the talks with management, saying he and his colleagues from other unions had signed a confidentiality agreement. Asked whether the Chinese company had given a guarantee that jobs would remain in Sweden, Magnusson said, "we have obtained a response to our questions." Volvo has 22,000 employees worldwide, including 16,000 in Sweden. Ford Motor Company announced in December that it had agreed on the main terms of the sale of its loss-making Swedish subsidiary Volvo Cars to Geely, one of China's largest private automakers, for a reported two billion dollars. If completed, the deal will bring to an end Ford's decade-long association with the premium Swedish brand, known for its sturdy, family-friendly cars. Ford had said it anticipated "a definitive sale agreement will be signed in the first quarter of 2010, subject to appropriate regulatory approvals". Geely reportedly secured the financing needed for the purchase earlier this month, which the Financial Times valued at about 1.8 billion dollars. The newspaper said more than a billion would be loaned by the European Investment Bank and the Swedish and Belgian governments. The Swedish media had questioned the ability of Geely, a relatively young player, to finance the takeover. The deal was a "leap in the dark," said the Dagens Nyheter newspaper, the day after the accord was announced. But Svenska Dagbladet said Saturday that Geely's chairman had given guarantees that all research and development activities would remain in Sweden and that production would first be assured by plants in Sweden. Chinese Vice President Xi Jinping is due in Sweden this weekend but according to the Volvo spokesman, there are no plans for him at the moment to visit the company headquarters. Geely boss Li earlier told China's Xinhua news agency that the Volvo bid was related to a "new energy powered vehicle," which he described as "the future of the world's auto industry. If the deal succeeds, nothing will change for Volvo, except the boss turns to Li Shufu," Li said. "Volvo and Geely will be two independently-managed brands." Regards,

According to Todays Paper, Singaporean is launching a takeover bid for Newcastle. Can Singaporean do it ? Or is it someone using Singapore name to takeover. I am really puzzled if anyone from Singapore have the ability to take over a premier club.. Peace Bro

Hi fellow skoda owners, As I would be scrapping my Seat, was wondering if anyone would like to takeover/swap for my 18's Mille Miglia Rims with German Goodyear F1s? (75% thread) Cheers

anybody interested in getting a gen2?take over.no cash needed.SFN OPC car.light blue color.monthly abt $485 i tink.anyone?