ISOTeam to divest stake in Sunseap Group for S$12.2 million
Shares will be sold to renewable energy producer EDP Renewables, subject to approvals
Singapore
ISOTEAM has agreed to divest its entire 1.18 per cent equity interest in clean energy solutions provider Sunseap Group for about S$12.2 million at S$270 per sale share, announced the construction group on Friday (Nov 5).
The shares will be sold to renewable energy producer EDP Renewables, who earlier this week bought a substantial stake in Sunseap which would value the company at S$1.1 billion, said the latter company in a statement on Nov 3. The transaction is subject to approvals, with completion slated for the first quarter of 2022.
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