OCBC confirms its final offer to acquire an additional 11.56% stake in Great Eastern Holdings at S$25.60 per share, extending the offer until July 12, 2024.
Target Information
Great Eastern Holdings Limited ("Great Eastern") is a prominent insurance company in Singapore, primarily engaged in providing life and general insurance services. Currently, OCBC holds an 88.80% stake in the firm, which is expected to increase to 89.01% when accounting for shares held by OCBC’s concert parties.
As of the announcement on June 14, 2024, OCBC is making a final offer for an additional 54,732,310 shares, representing an 11.56% stake in Great Eastern. The offer price is set at S$25.60 per share, reflecting OCBC's commitment to solidifying its control over Great Eastern.
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Industry Overview
The insurance sector in Singapore is characterized by robust growth and a regulatory framework designed to safeguard policyholders. The Monetary Authority of Singapore (MAS) governs the industry, ensuring that firms maintain adequate c
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Oversea-Chinese Banking Corporation Limited
invested in
Great Eastern Holdings Limited
in 2024
in a Public-to-Private (P2P) deal
Disclosed details
Transaction Size: $1,413M