Singapore’s Temasek agrees to buy 30% stake in Danish firm Haldor

A woman passes a logo of state investor Temasek Holdings at their office in Singapore July 8, 2014. REUTERS/Edgar Su

Singapore state investor Temasek Holdings has clinched a deal to acquire a stake of about 30 percent in Danish chemicals company Haldor Topsoe A/S, in a transaction that values the firm at roughly $1.5 billion, a source with direct knowledge of the matter said.

As part of the deal, Temasek will subscribe to secondary shares issued by the Topsoe family, which currently owns 100 percent of the company, the source said.

The Topsoe family owns the firm, a provider of catalysts and proprietary technology for the chemical and refining industries, via Haldor Topsoe Holdings A/S. Haldor Topsoe employs about 2,300 staff and logged revenue of about $760 million in 2017.

Last June, the owners started a process to find a financial minority investor in order to accelerate growth.

There was no immediate response from Haldor Topsoe to a Reuters query sent outside normal office hours in Denmark. A Temasek spokesman declined to comment.

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Reuters

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.