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Keppel T&T sells stake in HK airfreight terminal for $45 mil

PC Lee Published on Sat, Mar 18, 2017 / 8:43 AM GMT+8

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SINGAPORE (March 18): Keppel Telecommunications & Transportation (Keppel T&T) said on Friday it has agreed to sell its 10% stake in Asia Airfreight Terminal Company for HK$250 million ($45.2 million) to Holistic Capital Investment, a unit of Hong Kong Airlines.

Asia Airfreight Terminal, located at Hong Kong International Airport in Chek Lap Kok, New Territories, offers services such as cargo handling and documentation processing.

"The transaction is in line with the company's strategy to divest non-core assets and recycle its capital to seek higher returns," Keppel T&T said. "The proceeds from the divestment will allow Keppel T&T to pursue further growth opportunities in its core businesses in data centres and logistics."