714 views
Logo from Keppel Land

Keppel Land divests shares in Greenfield Development for $75.6m

The shares will go to Spring Blossom Ventures.

Keppel Land Limited and its wholly owned subsidiary, Double Peak Holdings, will divest 100% of the issued share capital of Greenfield Development (GDPL) to Spring Blossom Ventures for $75.6m.

Spring Blossom Ventures will pay for the shares in three tranches.

According to a bourse filing by Keppel Corporation, Keppel Land’s parent company, GDPL holds 100% of the issued share capital of Straits Greenfield Limited (SGL), which has the right to build and operate a hotel in Myanmar.

Keppel Land expects to complete the divestment by the first half of 2023. After the divestment, GDPL and SGL will cease to be subsidiaries of Keppel Corporation.
 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!