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
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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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