Keppel T&T to recognise S$56m gain from partial sale of DC Reit manager

Singapore

KEPPEL Telecommunications & Transportation (Keppel T&T) will recognise a S$56 million gain after selling a 50 per cent stake in the manager of its data centre real estate investment trust (Reit) to parent Keppel Corp.

Keppel T&T, which posted a S$91.5 million net profit for all of 2015, sold half of Keppel DC Reit Management to Keppel Capital Holdings for S$38 million on July 1. Keppel Capital is fully owned by Keppel Corp, which in turn owns about 80 per cent of Keppel T&T.