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Keppel unit completes series of share consolidation

Friday, July 1, 2016 - 17:52

KEPPEL Corporation Limited on Friday said its wholly owned subsidiary, Keppel Capital Holdings, has completed the consolidation of a 100 per cent of shares of Keppel Reit Management Limited (manager of Keppel Reit), Alpha Investment Partners Limited (a fund manager) and Keppel Infrastructure Fund Management (the trustee-manager of Keppel Infrastructure Trust).

It has also completed the consolidation of 50 per cent of shares of Keppel DC Reit Management (manager of Keppel DC Reit), Keppel Corporation said in a filing to the bourse operator.

In relation to the consolidation of interests in Keppel DC Reit's manager, Keppel Capital had entered into a share purchase agreement with Keppel Data Centres to acquire 50 per cent of the shares of Keppel DC Reit's manager for S$38 million.

Keppel Data Centres, a wholly owned subsidiary of Keppel Telecommunications & Transportation Ltd (KT&T), will continue to own the remaining 50 per cent of shares of the Keppel DC Reit's manager. This is in line with the intent for Keppel DC Reit's manager to continue to leverage Keppel Data Centres' strength and expertise in the development and operation of data centres.

The acquisition of the relevant shares is not expected to have any material impact on the net tangible assets and earnings per share of the Keppel Corporation for the current financial year.

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