SINGAPORE, April 25 – Private equity firm Navis said today it has made an unconditional takeover offer for SEG International Bhd (SEGi) that values the Malaysian private tertiary education provider at RM1.1 billion.
The cash offer of RM1.714 per SEGi share and RM1.214 for each warrant will be made by Navis Asia Fund VI G.P. Ltd and Navis MGO I GP Ltd, which are acting in concert with SEG’s largest shareholder and group managing director Clement Hii.
Navis and Hii together control 61.5 per cent of SEGi, assuming all the warrants are exercised and converted into shares, Navis said in a statement. – Reuters