Keppel takes full control of Keppel Bay Tower via share swap with Mapletree

KEPPEL Group on Wednesday said it has completed a share swap with Mapletree Investments that would see Keppel holding full control of office building Keppel Bay Tower.

Keppel has acquired its remaining 30 per cent interest in Harbourfront One Pte Ltd - which holds Keppel Bay Tower - from Mapletree for S$180.9 million. In turn, it sold to Mapletree their 39 per cent interest in Harbourfront Two Pte Ltd - which holds Harbourfront Towers 1 and 2 - for S$225.7 million.

Keppel Bay Towers and Harbourfront Towers 1 and 2 were jointly developed by Keppel and Mapletree in 2002.