[SG Holdings Global] Results of the Takeover Bid of Expolanka Holdings PLC(6/19/2014)
SG Holdings Co., Ltd. ("SGH") has, through its subsidiary SG Holdings Global Pte. Ltd. ("SGG"), and following on from the purchase of 30% of Expolanka Holdings PLC ("Expolanka"), a Sri Lankan logistics company, listed on the Colombo stock exchange, through cross trade transaction on 9 May, 2014, completed a takeover bid (commencing on 27 May, 2014 and closing on 17 June, 2014, Colombo time) for the remaining Expolanka shares. The results of this takeover bid are as follows.
With the combination of the cross trade transaction and the takeover bid, SGH Group has acquired more than 51% of total issued shares, and effectively has a controlling interest in Expolanka. The current management team, including CEO, Mr. Hanif Yusoof, plans to continue in their current positions, with the Group entrusting business operations of the company to this management team. The Group shall also appoint directors and other members of staff, to appropriate positions in the company, while at the same time infusing talents from Expolanka into the SGH Group, so as to deepen mutual understanding, increase synergy, resulting in the increased growth of Expolanka.
By unifying Expolanka's global freight forwarding network with the SGH Group's operating bases in Japan, East Asia and the ASEAN region, our international logistics services will be broadened, and we are confident that our customers will enjoy more transportation options, with more convenience.
In the field of broad area transportation, connecting regions where Expolanka has business bases and logistics experience, such as the emerging economies of South Asia, including India, Bangladesh and Sri Lanka, with Japan, Europe, North America and Asia, we aim to provide our customers with fine-tuned logistics services to meet their individual needs.
With regards to transportation of apparel, an area in which both Expolanka and the SGH Group has high levels of expertise, we will unify our collective know-how in order to respond to the specialized needs of the apparel industry.