You are here

Sembcorp Industries unit divests 49% stake in Yancheng China Water Co

Friday, December 30, 2016 - 17:57

19_40931201 - 20_12_2016 - lmxsemb21.jpg
A UNIT of Sembcorp Industries has sold the 49 per cent stake it owns in Yancheng China Water Co for 260 million yuan (S$53 million).

A UNIT of Sembcorp Industries has sold the 49 per cent stake it owns in Yancheng China Water Co for 260 million yuan (S$53 million).

The group will recognise a net gain of about S$30 million from the transaction, for the financial year ending Dec 31, 2016.

Yancheng China Water Co, which runs a municipal water facility in Jiangsu, China, was sold to Yancheng City Municipal Utilities Investment Company.

Sembcorp Industries had carried the asset at 116 million yuan on its balance sheet.

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom