SINGAPORE: Simba’s owner, Australia’s Tuas, announced on Friday (May 22) that the deal to acquire M1 has been terminated.
In a statement posted on the Australian Securities Exchange on Friday morning, Tuas said that it and Keppel – M1’s parent company – would be released and discharged from their respective obligations if certain conditions under the terms of the sales and purchase agreement were not fulfilled or waived before the long stop date.
The long stop date was previously extended to May 21.
