Rowsley gets green light to acquire Sasteria

PETALING JAYA: Rowsley Ltd has obtained the Singapore Exchange Securities Trading Ltd’s (SGX) approval for its proposed acquisition of Sasteria Pte Ltd, the owner of Thomson Medical Pte Ltd and the controlling shareholder of TMC Life Sciences Bhd (TMCLS).
Under the agreement, Rowsley will acquire a 100% stake in Thomson Medical and a 70.36% stake in TMCLS for S$1.6 billion.
TMCLS told the stock exchange, Rowsley will hold an EGM on March 23, to seek its shareholders’ approval on the proposed acquisition.
It said Rowsley also had proposed to change its name to Thomson Medical Group Ltd, subject to its shareholders’ approval and registration with authority in Singapore.
TMCLS slipped two sen or 2.55% to 76.5 sen today with 524,100 shares traded.