Keppel looks to gain $114m from sale of Beijing prime site

It granted CBD Ather Center an option to buy 51% of the holding firm for $396.3m.

Keppel Corporation (Keppel) could gain $114m after the sale of its 51% stake in a prime commercial site in Chaoyang District, Beijing for $396.3m, it said in an announcement.

Its subsidiary Keppel Land China has granted CBD Aether Center the option to buy its 51% stake in the holding company of Beijing Aether Property Development, the site developer.

CBD Aether may exercise the option at any time within 120 days after the option's commencement. It agreed to pay $297.9m for the stake in the development.

"The proposed divestment is in line with Keppel Land’s strategy to recycle assets to seek higher returns," Keppel said.

It added that after the sale, its net tangible asset per share would have risen from $6.21 to $6.28 whilst earnings per share would have gone up from 11.9 cents to 18.1 cents.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia