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Keppel Land units in share swaps with Viet real estate company

Published Wed, Dec 14, 2016 · 09:50 PM
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Singapore

KEPPEL Land and Vietnam's Hung Phu Real Estate Investment Corporation (HRPE) have unwound their cross holdings in two project firms, with each ending up with full ownership in one of them.

Keppel Corporation, the parent of Keppel Land, said in a filing to the Singapore Exchange on Tuesday night, that one deal involved Keppel Land's VN Investment Pte Ltd buying a 40 per cent stake in Riviera Cove Joint Venture Limited Liability. The cash consideration is 131.46 billion Vietnamese dong (S$8.31 million). The purchase from HRPE gave Keppel Land full ownership of Riviera Cove.

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