Singapore’s Temasek Holdings has agreed to buy Element Materials Technology for about $7bn, as it sees an opportunity to boost growth at the testing and inspection services provider, two sources familiar with the matter said.
State investor Temasek, which acquired a significant minority stake in Element in 2019, is buying the company from London-listed buyout firm Bridgepoint Group (BPTB.L) and an announcement could be made as early as Monday, one of the sources said.
The buyout will be one of the biggest ever deals by Temasek and a rare controlling-stake transaction by the investor, which reported a 25% rise in its portfolio value to a record S$381 billion ($283 billion) in the year ended March 2021.
Read more: Reuters
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