The facility, known as Keppel DC Frankfurt 1, is being sold to a subsidiary of information management services company Iron Mountain. The consideration will be paid in cash and was arrived at a willing-buyer, willing-seller basis, taking into account the book value of the property of EUR63 million as of Dec 31, 2020.
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The consideration was also adjusted for advance receipts received and advance payments paid by Alpha DC Fund and KDCH.
Completion of the divestment is expected to take place in 3Q2021.
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The divestment is not expected to have any material impact on the net tangible assets per share or earnings per share of Keppel Corporation for the current financial year.
Photo: Keppel Corporation
