Short hops

ST Aerospace Resources to divest 50% of Keystone stake

SINGAPORE Technologies Engineering (ST Engineering) said ST Aerospace Resources has signed an agreement to divest 50 per cent of its equity stake in Keystone Holdings (Global) to SJ Aviation Capital, a Singapore-based subsidiary of Japanese trading company Sojitz Corporation, for an estimated US$10.7 million. Upon completion, ST Aerospace Resources and SJ Aviation Capital will each own a 50 per cent stake in Keystone Holdings. After the transaction, the shareholders plan to continue to build up a portfolio of mid-life and end-of-life single-aisle aircraft assets.

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