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Keppel Land appoints KPMG as independent financial adviser to Keppel Corp's offer

KEPPEL Land on Monday said that it has appointed KPMG Corporate Finance Pte Ltd as the independent financial adviser (IFA) to advise the independent company directors on the offer.

A circular containing the IFA's advice as well as the recommendation of the independent directors will be sent to shareholders and bondholders in due course.

Keppel Corp on Jan 23 launched an offer to take its subsidiary Keppel Land private at a base offer price of S$4.38 per share. This will be raised to S$4.60 per share if acceptance levels exceed the 90 per cent threshold that turns the offer into a compulsory acquisition.