Singapore Airlines acquires 7.3% interest in Tiger Airways Holdings Limited

Singapore Airlines entered (20-Dec-2013) a share purchase agreement with Dahlia Investments Pte Ltd and Aranda Investments Pte Ltd, acquiring a 7.3% stake in Tiger Airways from Temasek Holdings, taking its stake in the LCC from 32.7% to 40%. SIA said it had acquired 72.33 million shares in Tiger from Dahlia and 1,800 shares from Aranda for SGD49.034 million, funded by the carrier's internal cash resources. Both Dahlia and Aranda are indirect wholly-owned subsidiaries of Temasek Holdings. The consideration was based on a price of SGD0.67788 per share, which represents a premium of 20% over the volume-weighted average prices of Tiger shares traded on SGX for the 20 trading days up to and including 16-Oct-2013. [more - original PR]