Keppel T&T sells stake in Asia Airfreight Terminal Co for HK$250m
KEPPEL Telecommunications & Transportation (Keppel T&T) said on Friday it has agreed to sell its 10 per cent interest in Asia Airfreight Terminal Company for HK$250 million (S$45.2 million) to Holistic Capital Investment, a unit of Hong Kong Airlines.
Asia Airfreight Terminal, located at Hong Kong International Airport in Chek Lap Kok, New Territories, offers services such as cargo handling and documentation processing.
"The transaction is in line with the company's strategy to divest non-core assets and recycle its capital to seek higher returns," Keppel T&T said. "The proceeds from the divestment will allow Keppel T&T to pursue further growth opportunities in its core businesses in data centres and logistics."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
Changi Airport’s Q1 passenger movements surpass pre-pandemic levels
S&P Global first-quarter profit beats estimates on strong product demand
Malaysia mulls over plans for casino in Forest City as part of Johor-S’pore Special Economic Zone: sources
Far East Orchard acquires 49% stake in UK-based purpose-built student accommodation operator for £17.6 million
Nestle sales growth sputters on US slump, vitamin snags