Completion of the divestment is expected to take place by the first half of 2023. Following the completion, Willowville will cease to be a subsidiary of the company.
The divestment is in line with Keppel’s Vision 2030 asset monetisation plans to unlock capital, it said in a filing.
The transaction is not expected to have any material impact on Keppel’s net tangible assets per share or earnings per share for the current financial year.
Shares in Keppel closed 3 cents lower or 0.4% down on Feb 8 at $7.08.
