Aalberts N.V. has entered into an agreement with Grand Venture Technology for the proposed acquisition of 100% of the company. Shareholders of GVT are offered a consideration of S$0.94 in cash per share implying a total consideration of approximately S$319 million for all outstanding shares. The company said the acquisition will directly contribute to the earnings per share.
GVT is a precision engineering solutions and service provider of components, mechatronics, assembly and testing mainly for semiconductor, analytical life sciences, medical, aerospace and industrial automation industries. GVT, with its head office in Singapore, operates 6 facilities across Singapore, Malaysia and China, with approximately 1,800 employees.
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