Roadblock in Keppel's sale of China marina stake
Minority shareholder Sunsea Yacht Club (HK) files writ of summons seeking to stop the sale and for other various related interim injunctions
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Singapore
KEPPEL Corporation's planned 2.9 billion yuan (S$592 million) disposal of its stake in a China marina project is being blocked by the minority shareholder of the project.
The group announced on Tuesday that Keppel Land China (KCL) and Keppel China Marina Holdings (KCMH) have been served with a writ of summons filed by Sunsea Yacht Club (Hong Kong) Company in the Singapore High Court - with Sunsea seeking to stop KCL from selling KCMH.
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