Oceanus
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new year to buy abalone and lobster
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| KKR in talks to buy Singapore abalone farmer Oceanus: Update |
| WRITTEN BY THOMSON REUTERS |
| FRIDAY, 29 APRIL 2011 13:00 |
Kohlberg Kravis Roberts & Co (KKR.N) is in talks to buy Singapore-listed abalone farmer Oceanus Group (OCGL.SI) in a deal that may be worth around US$500 million ($613.6 million), three sources with direct knowledge of the matter told Reuters.
Oceanus stock, which was trading down 2%, turned positive to trade up as much as 14.6% after the Reuters report. Some 29.3 million shares changed hands, the highest volume since Jan. 17. The stock had its biggest one-day percentage gains since August 2010.
Private equity firm KKR has lined up financing of US$300-400 million from a group of banks, according to one of the sources. The sources declined to be identified as the talks were confidential. KKR and Oceanus declined to comment. Two of the sources said the take-private deal could ultimately see Oceanus relist in Hong Kong to unlock value in the stock. The stock is down about 13% this year, hurt by poorer-than-expected results for 2010 and concerns that it will continue to see execution risks from the expansion of its restaurant business. Oceanus currently has a market value of about US$484 million. Oceanus Group is a holding company originally listed in Singapore in 2008. Its two main business segments are aquaculture production and abalone processing and distribution, but it also operates the " Ah Yat Tian Xia" chain of restaurants with outlets in China, Hong Kong, Taiwan and Singapore. The company expanded from 21 restaurants in 2010 from 14 units in late 2009, but has since cut back to 13 outlets as expansion costs outstripped its revenue, OCBC Investment Research said in a March 2011 report on the company. Oceanus reported in March its fourth quarter net profit swung to a loss of 45.6 million yuan ($8.6 million), compared with a net profit of 59.1 million yuan a year earlier. Oceanus’ abalones are farmed along the coasts of Fujian and Guangdong provinces in China. As of Dec. 31, Oceanus had 30,123 abalone breeding tanks and an abalone population of 178.4 million units of abalones. Oceanus’ biological assets were valued at 1.155 billion yuan as of the end of last year. According to Starmine’s SmartEstimate, Oceanus is trading at a 12 months forward price-to-earnings ratio of 6.3 times, compared with its sector median of 11.8 times, as of the close of Thursday.
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the thing is, if the news is comfirm, the American company may be in other businesses, remain listed in other products that is more lucurative ?
Paiseh.risktaker ( Date: 29-Apr-2011 13:49) Posted:
You fail ur maths?
oceanus total share: 2300 million.
take over funds : usd 500 million.
sgd 600 millin/ 2300 million is 26 cents
Busta1 ( Date: 29-Apr-2011 13:35) Posted:
With 2 billion shares, means each share should be around 40cts.. Huat! |
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You fail ur maths?
oceanus total share: 2300 million.
take over funds : usd 500 million.
sgd 600 millin/ 2300 million is 26 cents
Busta1 ( Date: 29-Apr-2011 13:35) Posted:
With 2 billion shares, means each share should be around 40cts.. Huat!
risktaker ( Date: 29-Apr-2011 13:25) Posted:
| Take Over by American Giant KKR. Deal like worth around 500million. |
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With 2 billion shares, means each share should be around 40cts.. Huat!risktaker ( Date: 29-Apr-2011 13:25) Posted:
| Take Over by American Giant KKR. Deal like worth around 500million. |
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Take Over by American Giant KKR. Deal like worth around 500million.
Price up before halt. Should be good news. Maybe got buyout offer?
trading halt ! News anyone knows ?
just now saw taiwan tongsheng channel ,it recommend buy oceanus due to japan disater,,,,,,,,,,,,,,,,,,,,so must monitor taiwan market on monday,,,,,,,,,,,,,,,,,,,,,,look like taiwan fund going to raid or scoup abalone again,,,,,,,,,,,,,,,,,,,,,watch out
I already cut loss & sold mine! Sad..
Consciense food..vested...hope tis one perform well...
In 2010 Asians did not eat enough abalones.
In 2011 will Asians eat more abalones ?
This counter oceanus looks positive right now tempting to go in lost money earlier when it dip right down to 22cents.
Maybe i just wait for next audit report or lets me see if the japan nuclear crisis is effecting any seafood stocks in the coming days.
Good A grade stock to hold near future.
Watch consciencefood i see an upside last few days accumulate a few lots there this Indonesia food maker as good potential.
regards
ezycash
www.stockmarketwatch.info
oversold finish,,,,,,,,,,,,,,back to sq again,,,,,,,,,,,,,,,,,im hesitate,,,,,,,,,,,,,,,,,up or down,,,,,,,,,,,,,,,,,
STI not performing, so as most of the stocks..I think most of the investor holding back for rally. Don't worry lah as what Louis said.
Cold be that Big holders have yet to complete sale of their investment. I think this might be the problem with the counter, since it has been coming downwards without efforts.
bluesky88 ( Date: 07-Feb-2011 11:09) Posted:
Happy Lunar New Year to all of you! Hope this new yr brings good health, good fortune to everyone!
Its a " BUY" call from analyst in today's MyPaper TP $0.375.
Cheers... |
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dont worry lah, good store will fly,
new year over liao.
Actually a take-over is not that far-fetched an idea.. 
GuavaXF30 ( Date: 08-Feb-2011 16:42) Posted:
No future. Best to park your money elsewhere.
Dual listing, buying into Aussie lobster business, merge with Ah Yat Restaurants, all news already out and price still coma. Only way they can excite the market now is to say that Warren Buffet launching a take-over.... :(
joseah ( Date: 08-Feb-2011 11:42) Posted:
| sigh.....what the hell is wrong with this counter....sigh... |
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No future. Best to park your money elsewhere.
Dual listing, buying into Aussie lobster business, merge with Ah Yat Restaurants, all news already out and price still coma. Only way they can excite the market now is to say that Warren Buffet launching a take-over.... :(
joseah ( Date: 08-Feb-2011 11:42) Posted:
| sigh.....what the hell is wrong with this counter....sigh... |
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sigh.....what the hell is wrong with this counter....sigh...
