Of the amount, US$53.1 million is consideration for the sale shares, while the remaining US$45.5 million is for the repayment of shareholder’s loans.
The total consideration will be fully paid in cash upon the completion of the divestment.
The planned divestment is said to be in line with Keppel’s Vision 2030 asset monetisation plans to unlock capital, which can then be used for new growth opportunities.
Including the divestment, Keppel has announced about $3.1 billion asset monetisation since the launch of the programme in September 2020.
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Shares in Keppel closed at $6.11 on March 14.
Photo: Keppel
