Keppel Corp terminates divestment of Flemmington Investments
No further reasons were given except that the parties involved have already entered into agreements to terminate the divestment.
Keppel Land has terminated the divestment of its 100% stake in Flemmington Investments, announced Keppel Corporation BN4
on May 12.
No further reasons were given, except that Keppel Land, the purchaser, as well as the relevant parties have already entered into an agreement to terminate the divestment agreements.
The termination is not expected to have any material impact on the group’s net tangible assets per share or earnings per share for the current financial year.
Keppel Land, on March 15, announced that it was divesting its entire stake in Flemmington Investments for a total consideration of US$98.6 million ($134.6 million).
Shares in Keppel Corp closed 3 cents lower or 0.47% down at $6.40 on May 12.
See Also:
Click here to stay updated with the Latest Business & Investment News in Singapore
Could Keppel's structure reorganisation lead to property arm spin-off?
Analysts mixed on Keppel Corp's 1QFY2023 results; PhillipCapital downgrades to 'accumulate'
Get in-depth insights from our expert contributors, and dive into financial and economic trends