The amount will be fully paid for in cash.
The amount was arrived at after taking into account VESS and VESSI’s earnings, book value, and values of their existing contracts.
Previously, the amount under the sale and purchase agreement was set at $28 million.
See also: HSBC’s US$14 bil Hong Kong buyout adds to exuberant year
Shares in Sembcorp Industries closed 7 cents lower, or 3.8% down, at $1.75.
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