<article><a style="color: #000080;" href="http://dealstreetasia.com/tag/sia-engineering" target="_blank">SIA Engineering</a> has launched a joint venture (JV) with <a style="color: #000080;" href="http://dealstreetasia.com/tag/airbus" target="_blank">Airbus</a>, while GKE Corporation is acquiring TNS Ocean Lines.</article>

<a style="color: #000080;" href="http://dealstreetasia.com/tag/sia-engineering" target="_blank">SIA Engineering</a> has launched a joint venture (JV) with <a style="color: #000080;" href="http://dealstreetasia.com/tag/airbus" target="_blank">Airbus</a>, while GKE Corporation is acquiring TNS Ocean Lines.
<h3 style="text-align: justify;">SIA Engineering launches JV with Airbus</h3>
SIA Engineering has set up a JV company &#8211; Heavy Maintenance Singapore Services &#8211; with Airbus S.A.S. to provide airframe maintenance, cabin upgrade and modification services for Airbus A380, A350 and A330 aircraft families.
This JV will see SIAEC hold a 65 per cent stake in HMS Services, with Airbus holding the remaining 35 per cent stake in the company. This was announced on Friday, 28 Ocotber 2016, following approval from competition authorities in the relevant jurisdictions.
SIAEC explained that the JV corporation will complement the group’s maintenance experience with Airbus’ technical expertise as an airframe original equipment manufacturer.
This latest development sees SIAEC operating 25 joint ventures in eight countries with leading OEMs and other strategic partners as at October 2016.
<h3 style="text-align: justify;">GKE to acquire TNS Ocean Lines in S$9m deal</h3>
<a style="color: #000080;" href="http://dealstreetasia.com/tag/gke-corporation" target="_blank">GKE Corporation</a>, an integrated warehousing and logistics solutions provider, will be acquiring the totality of the share capital of <a style="color: #000080;" href="http://www.tnsocean.com/" target="_blank">TNS Ocean Lines</a> for a purchase consideration of S$9 million.
Established in 1995, TNS is engaged in the business of providing stevedoring and lighterage services, lashing, wharf operation services and transportation of mariner materials by sea. The acquisition is projected for completion on 30 November 2016 and will render it a wholly-owned subsidiary of GKE.
According to GKE Corporation, the purchase consideration will be satisfied with an S$2.7 million cash payments. The balance of S$6.3 million is to be satisfied through a placement of 52.5 million GKE shares to be issued at 12 cents each.
The acquisition agreement includes a profit guarantee that the cumulative net profit before tax in the audited accounts of TNS shall not be less than the aggregate amount of S$3.5 million for three years, starting from the date of completion.
Speaking on the acquisition, Neo Cheow Hui, CEO and Executive Director of GKE, says, “Our expansion into port operations through the acquisition of TNS, a profitable and established port operations &amp; logistics service provider, will strengthen GKE’s earnings base and further expand our logistics services as port operations is the first and last landing points for the import and export of goods.”
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SIA Engineering has launched a JV company with Airbus, while GKE Corporation is acquiring TNS Ocean Lines.

SG Dealbook: SIA Engineering-Airbus launch JV; GKE Corp to acquire TNS Ocean Lines

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SG Dealbook: SIA Engineering-Airbus launch JV; GKE Corp to acquire TNS Ocean Lines

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