KepLand raises stake in Vietnam property project
Holding to be raised from 55% to 98% for development's remaining phases
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KEPPEL Land, which owns 55 per cent of a residential development project in Vietnam known as The Estella, has entered into a deal to raise the stake to 98 per cent for the remaining two phases of the development.
The Singapore-listed company and its Vietnamese partner, Tien Phuoc Co Ltd, had embarked on the project through Estella Joint Venture Company Limited.
Keppel Land is paying Tien Phuoc US$11.46 million for the additional 43 per cent stake.
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