Keppel Asia Infrastructure Fund (KAIF) and Keppel Infrastructure Holdings (KI) are purchasing a combined 80% stake in Singaporean environmental services company 800 Super Holdings for S$304mn ($218.5mn). Keppel Corporation, the parent company of Keppel Capital, said that this deal values 800 Super at S$380mn ($273.1mn), with KAIF and KI holding a 48% and 32% interest respectively post-purchase. The co-founder of 800 Super, William Lee, will retain the remaining 20% stake and maintain his position as the CEO of the company. Keppel said that the consortium trusts that “800 Super is likely to realize its market potential by unlocking the latent capacity in its waste-treatment segment to meet increasing demand in the sector”. This deal aligns with Keppel’s Vision 2030 which places emphasis on sustainability. This deal is not expected to have a material impact on the net tangible assets per share or earnings per share of Keppel for the current financial year.
Keppel Corporation’s SGD 3.66% 2029s were up 0.3 points to 99.28 cents on the dollar, yielding 3.78%.
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