Singapore Technologies to Buy Nera Telecom for S$141 Million

Singapore Technologies Engineering Ltd. (STE)’s electronics unit will buy Nera (NERT) Telecommunications Ltd. for S$141.1 million ($111.8 million).

Nera, a provider of telecommunication and Internet services, will be delisted from the Singapore Stock Exchange, the companies said in a statement yesterday. Shareholders of Nera will also receive S$21.7 million from the purchased company as a cash dividend, according to the statement.

The shares of both companies were halted for trading yesterday.

To contact the reporter on this story: Sanat Vallikappen in Singapore at vallikappen@bloomberg.net

To contact the editor responsible for this story: Jim McDonald at jmcdonald8@bloomberg.net

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