KepLand raises stake in Vietnam property project
Holding to be raised from 55% to 98% for development's remaining phases
KEPPEL Land, which owns 55 per cent of a residential development project in Vietnam known as The Estella, has entered into a deal to raise the stake to 98 per cent for the remaining two phases of the development.
The Singapore-listed company and its Vietnamese partner, Tien Phuoc Co Ltd, had embarked on the project through Estella Joint Venture Company Limited.
Keppel Land is paying Tien Phuoc US$11.46 million for the additional 43 per cent stake.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
S&P slashes Boeing credit outlook as rating hovers above junk status
Honda to spend US$11 billion on EV strategy in Canada
GlaxoSmithKline sues Pfizer and BioNTech over Covid-19 vaccine technology
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Nasdaq’s profit falls as shaky economy keeps IPO revival elusive
iFast Q1 net profit surges on ePension unit performance