SUBSCRIBERS

KepLand bid: $4.60 price hinges on 95.5% stake

KepCorp's stake now at 85.6%, within striking distance of 90% privatisation threshold

Published Fri, Mar 13, 2015 · 09:50 PM

Singapore

ALTHOUGH conglomerate Keppel Corp inched closer to privatising its mainboard-listed property arm on Friday, shareholders who accepted its two-tier offer will not get the higher payout rung unless it owns at least 95.5 per cent of Keppel Land.

Its stake in Keppel Land has grown to 85.6 per cent from 85.1 per cent the day before, the company said in a Singapore Exchange filing on Friday evening.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes