Keppel Corp selling 70% stake in Vietnam township project
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Singapore
KEPPEL Corp is selling a 70 per cent interest in a Vietnam township project to Nam Long Investment Corp for 2.3 trillion Vietnamese dong (S$136 million) in cash.
Keppel Land, the conglomerate's real estate arm, is currently in the process of taking over complete control of Dong Nai Waterfront City from its current joint venture partner in the project through a demerger. Keppel Land will retain a 30 per cent stake in Dong Nai Waterfront City after the sale of the 70 per cent stake to Nam Long.
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