Sembcorp Ind eyes S$350m gain from sale of stake in JV
It expects to channel the gain for FY15 into high-growth businesses and markets in energy and water sectors
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Singapore
SEMBCORP Industries expects to channel a net gain of about S$350 million from the sale of a 40 per cent stake in an Australian integrated waste management joint venture into high-growth businesses and markets in the energy and water sectors.
Its wholly owned subsidiary Sembcorp Environment has signed an agreement to sell its interest in the investment holding entity for the waste management business, SembSita Pacific Pte Ltd, to 60 per cent joint-venture partner Suez Environnement Asia for A$485 million (S$482 million).
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