Singapore's Pegasus Asia is still in talks over a possible merger

Pegasus Asia

31/10/2023 11:47

SINGAPORE, Oct 31 (Reuters) - Pegasus Asia  PEGA.SI , a
Singapore-based special purpose acquisition company backed by
alternative asset manager Tikehau Capital  TKOO.PA , said on
Tuesday that it is still in discussions over a possible business
combination.
    The shell company said "any transaction will require the
execution of definitive binding legal agreements on mutually
acceptable terms, due diligence, regulatory and third party
approval, among other conditions precedent."
    The announcement to the local stock exchange came after
Bloomberg reported earlier Tuesday that Pegasus Asia was nearing
an agreement on a merger with satellite internet company Kacific
Broadband Satellites.
    Pegasus Asia referred Reuters to the stock exchange
announcement when asked to comment on Tuesday. Kacific Broadband
did not immediately respond to request seeking comment.
    "The company wishes to emphasise that there is no certainty
or assurance that a transaction will proceed or take place and
there is no certainty or assurance that definitive binding legal
agreements to effect a business combination will be signed,"
Pegasus Asia said in the statement.

 (Reporting by Yantoultra Ngui, Editing by Louise Heavens)
 ((Yantoultra.Ngui@thomsonreuters.com;))