SUTL Enterprise has signed a put-and-call option to acquire Marina at Keppel Bay from Keppel Bay for $40 million.
The acquisition is expected to be completed in the second half of 2026, and will result in the group adding another 166 berths with superyacht berthing capabilities for vessels up to 280-feet.
The group says that this will make SUTL Enterprise the largest owner/operator of integrated marinas in Singapore with a combined 436 berths.
The group intends to invest in infrastructure modernisation and rebrand it ONE°15 Marina Keppel Bay and believes the new site will bring significant operational and commercial synergies that are expected to strengthen its core marina business.
SUTL Enterprise is a mainboard listed company which develops and operates marinas, and also provides marina consultancy, marina development and yacht chattering services. It owns the ONE°15 Marina Sentosa Cove in Singapore and operates ONE15 Luxury Yachting.
Shares in SUTL Enterprises closed 1.5 cents higher or 1.765% up at 86.5 cents on Dec 30.
