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BUILDING & ENGINEERING | Staff Reporter, Singapore

TEE International JV acquires Chiang Kiong Group

It will hold a 50.1% stake in the JV.

A joint venture by construction engineering firm TEE International and two other companies acquired waste management firm Chiang Kiong Group.

According to an announcement, TEE International will hold 50.1% of the JV through TEE Infrastructure Private Limited, a wholly owned subsidiary.

Workforce solutions provider and TEE International's strategic partner Advancer Global Limited, a strategic partner will hold a 20.1% stake in the JV.

The remaining 29.8% will be held by an independent third party financial investor and business associate.

Other details of the acquisition were not disclosed by the companies.

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