OKH to divest minority stakes in logistics businesses for S$49m

Singapore

PROPERTY developer OKH Global announced after Thursday's trading close the planned disposal of minority interests in two logistics businesses for a total consideration of S$49 million.

OKH's two wholly-owned subsidiaries, OKH Transhub Pte Ltd and Chronoz Pte Ltd have on March 9 entered into two conditional share sale agreements. OKH Transhub will divest 30 million shares equivalent to a 40 per cent minority stake in PAL Investment, a logistics warehouse owner cum developer to PAL Holdings Pte Ltd (PALH) for S$40 million in cash under the first agreement.