SEMBCORP Successfully completes tender OFFER for CASCAL Shares
SINGAPORE, July 9, 2010 – Sembcorp Industries Ltd (Sembcorp) today announces the successful completion of the initial
tender offer (the “Offer”) by its wholly-owned subsidiary, Sembcorp Utilities Pte Ltd (Sembcorp Utilities), for all of the issued
and outstanding common shares (Shares) of Cascal N.V. (Cascal) (NYSE: HOO), a New York Stock Exchange-listed company,
set forth in the Amendment and Supplement to Offer to Purchase dated June 30, 2010, which amends and supplements the Offer
to Purchase dated May 21, 2010 (together, as amended from time to time, the “Offer to Purchase”).
The Offer period (as extended) expired at 5:00 p.m. New York City time on Thursday, July 8, 2010. BNY Mellon Shareowner
Services, the depositary for the Offer, has advised that a total of 28,398,090 Shares were validly tendered and not withdrawn
prior to the expiration of the initial tender offer period, representing approximately 92.26% of the issued and outstanding Shares.
All of the Shares validly tendered and not withdrawn have been accepted for payment. The Shares tendered include 39,888
Shares tendered subject to guaranteed delivery procedures prior to the expiration of the initial offer period.
With the successful close of the Offer, Sembcorp is now a 92.26% majority shareholder in Cascal. At US$6.75 per share, the total
consideration for the stake in Cascal amounts to US$191,687,107.50.
Tang Kin Fei, Group President & CEO of Sembcorp Industries said: “We are pleased with the positive outcome of the tender
offer and our acquisition of an 92.26% stake in Cascal. This acquisition is strategic to our group and will transform Sembcorp
into a global water player with enhanced capabilities to serve the total water and wastewater needs of both industrial and
As disclosed in the Offer to Purchase, now that the initial tender offer has been consummated, subject to and in accordance