Business

SIA to delist Tiger

SIA to delist Tiger

By REUTERS

SINGAPORE: Singapore Airlines (SIA) is set to delist Tiger Airways Holdings Ltd as its takeover offer for the budget airline closes on Friday, the company said. Singapore’s national carrier said by February 26, it owned, controlled or had agreed to acquire 95.6 per cent of Tiger Airways, a level which would allow for the compulsory acquisition of all of Tiger Airways’ outstanding shares. Singapore Airlines owned 55.8 per cent of Tiger Airways before launching an offer to take over the rest of the budget carrier in November. It has since raised the offer price, and extended the deadline for closing the offer a few times.