COMMERCIAL PROPERTY | Staff Reporter, Singapore

Sembcorp Industries raises stake in Vietnam JV

The shares were purchased for US$6.9m.

Sembcorp Industries (SCI) raised its stake in a joint venture (JV) firm Vietnam Singapore Industrial Park Pte Ltd (VSIPPL) from 92.9% to 96.6%.

According to a press release, the consideration price of the shares hit US$6.9m.

The acquisition of shares in VSIPPL from a minority shareholder is expected to be completed by end November 2017.

VSIPPL represents the Singapore consortium which holds a 51% stake in Vietnam Singapore Industrial Park Joint Venture Co., the developer of the Vietnam Singapore Industrial Park projects in Vietnam. 

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