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Miscellaneous* Asterisks denote mandatory information
Name of Announcer * SATS LTD.
Company Registration No. 197201770G
Announcement submitted on behalf of SATS LTD.
Announcement is submitted with respect to *
SATS LTD.
Announcement is submitted by * S. Prema
Designation * Joint Company Secretary
Date & Time of Broadcast 22-Nov-2013 06:55:05
Announcement No. 00008
>> Announcement DetailsThe details of the announcement start here ...
Announcement Title * PROPOSED ACQUISITION OF ALL THE SHARES IN THE CAPITAL OF SINGAPORE CRUISE CENTRE PTE LTD - CCS PHASE 2 REVIEW
Description Please see attached.
Attachments
CCS_Phase_2_Announcement.pdf
CCS_Media_Release.pdf
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https://www1.sgxnet.sgx.com/sgxnet/LCAnncSubmission.nsf/vwprint/9428BD7D640033...
11/22/2013
SATS LTD.(Incorporated in the Republic of Singapore) (Company Registration No. 197201770G)
PROPOSED ACQUISITION OF ALL THE SHARES IN THE CAPITAL OF SINGAPORE CRUISE CENTRE PTE LTD - CCS PHASE 2 REVIEWThe Board of Directors of SATS Ltd. ("SATS") refers to the announcement dated 26
September 2013 ("26 September Announcement") relating to the proposed acquisition of all the shares in the capital of Singapore Cruise Centre Pte Ltd ("Acquisition") by SATS' subsidiaries, SATS Airport Services Pte Ltd ("SAS") and SATS-Creuers Cruise Services Pte. Ltd. ("SCCS" together with SAS, the "Purchasers") from Hazeltree Holdings Private Limited (the "Vendor").
As mentioned in the 26 September Announcement, completion of the Acquisition is subject to, amongst other things, the receipt of the decision of the Competition Commission of Singapore ("CCS") that the Acquisition does not and/or will not infringe the prohibition under Section 54 of the Competition Act, Chapter 50B of Singapore, on terms satisfactory to the Purchasers and the Vendor.
The CCS has completed the Phase 1 review of the Acquisition and will be commencing a Phase 2 review of the Acquisition. The relevant media release dated 21 November 2013 issued by the CCS is attached to this announcement.
BY ORDER OF THE BOARD Prema d/o K. Subramaniam
Company Secretary
22 November 2013
CCS Initiates Phase 2 Review of Proposed Acquisition of S'pore Cruise Centre Pte. Ltd. ... Page l of l
Competitlon Commissìon SINGAfOal
CCS lnitiates Phase 2 Review of Proposed Acquisition of S'pore Cruise Centre Pte. ltd. by SATS Airport Services Pte. ltd. and SATS-Creuers Cruise Services Pte. ltd.
21 November 2013 (Click here for the PDF)
1. The Competition Commission of Slngapore ("CCS") has completed the Phase 1 review of the proposed acquisition by SATS Airport
Services Pte. Ltd.{"SAS') and SATS-Creuers Cruise Services Pte. Ltd. ("SCCS') of Singapore Cruise Centre Pie. ltd. ("SCCPL'), collectively 'the
Parties'.
2. CCS is unable to conclude that the proposed acqulsition would not raise competition concems,based on information furnished during the
Phase 1 review. The merger will proceed to Phase 2 review,upon receipt of Form M2 by the Parties.
3. Once the Parties have submil!ed Form M2, Phase 2 of the review will commence and can take up to 24 weeks to complete. Phase 2 of the revlew entails a more detailed and extensive examination of the effects of the merger and at the end of the period, CCS will decide whether to issue a favourable or unfavourable decision.
Background
4. CCS received a notificatlon for decislon on 10 October 2013 from the Parties with regard to the acquisition. The notification is made by SAS, on behalf of SAS and SCCS, in relation to the acquisition by SAS and SCCS of 100 percent of the lssued share capitai of SCCPL.
S. SCCS manages and operates the Marina Bay Cruise Centre Singapore and SCCPL manages and operates the lntemational Passenger
Terminai at Harbourfront Centre.
6. The notification was made in relation to section 54 of the Competition Aclwhich prohibits mergers that have resulted, or may be expected to result, in a substantiallessening of competition within any market in Singapore.
About The Competltion Commission of Singapore (CCS)
CCS is a statutory board established under the Competition Act (Chapter 508) on 1 January 2005 to administer and enforce the Act. lt comes under the purview of the Ministry of Trade and lndustry.The Act empowers CCS to investigate alleged anti-competitive activities, determina if such activities infringe the Acland impose suitable remedies, dlrections and financial penalties.
For more informatlon, please vlsit www.ccs.gov.SQ. For media clarlflcation,please contaet
Ms Lim Le-Anne
Senior Assistant Director Strategie Planning Division Competition Commission of Singapore Email:lim le-anne@ççs.goy. sg
DIO : 6325 8304/9478 8824
Ms Grace Suen
Assistant Director
Strategie Plannlng Division Competition Commission of Slngapore Email: grace suen@ccs.gov . sg
DIO: 6325 8216
Last Updatod on21Nov 2013
http://www.ccs.gov .sg/content/ccs/ en!Media-and-Publications/Media-Releases /ccs-initiat... 11/21/2013
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