CitySpring and Keppel trusts merging to form S$2b entity
Proposed share swap deal will be followed by equity fund raising to acquire majority stake in Keppel Merlimau Cogen
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Singapore
KEPPEL Infrastructure Trust (KIT) and CitySpring Infrastructure Trust are poised to create the largest Singapore infrastructure-focused business trust listed on the Singapore Exchange, following the combination of the two trusts, and the acquisition of a stake in Keppel Merlimau Cogen.
When completed, the two transactions will yield a combined trust with a market capitalisation expected to exceed S$1.9 billion and total assets in excess of S$4 billion.
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