THE local competition regulator is assessing the Singapore part of a proposed bid by SeekAsia Investments to buy the Malaysian company JobStreet. The Kuala Lumpur-based firm runs the online recruitment portal JobStreet Singapore here. The first phase of the review, which follows the close of a public feedback exercise yesterday, is expected to be completed within a month or so. A second stage involves examining the effects of the acquisition and could take up to 24 weeks to complete, said a spokesman for the Competition Commission of Singapore (CCS) yesterday. The Commission will then decide on whether to approve the deal, which involves SeekAsia acquiring 100 per cent of JobStreet for RM1.73 billion (S$667.5 million). Australia-based Seek already owns 22 per cent of the firm.
Posted on: Fri, 14 Mar 2014 01:37:52 +0000
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