Sembcorp sells water business in Panama

The divestment resulted in a net gain of about $21m.

Sembcorp Industries, through its wholly owned UK subsidiary Sembcorp Holdings, has sold 100% of its stake in Sembcorp Investments (SIL), which owned 100% of Aguas de Panama S.A. (APSA) to an affiliate of the Seven Seas Water Corporation.

According to an SGX filing on 2 November, the gross consideration for the sale of the water business’ equity shares was approximately $64m (US$47m), and the consideration for assignment of the shareholder’s loan was approximately $2.4m (US$1.8m).

APSA is a municipal water asset serving the Arraiján District in Panama under a 30-year concession that began in 2002. As of 30 October, the net asset value of SIL and APSA was $38m, and the divestment resulted in a net gain of approximately $21m.

Due to the divestment, SIL and APSA are not part of the Sembcorp Group anymore, and Sembcorp has also now fully exited the Panama market. Moreover, no material impact on the earnings per share and net asset value per share of Sembcorp for the current financial year is expected, the company has advised.

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!


Italy brings its strong suits to Singapore’s fintech expo
Italian trade executive says 9 firms at the Singapore Fintech Festival 2023 exemplify the diverse range of products and expertise Italy can bring to the table.
Trust Bank sets the bar for digital banking in Asia Pacific
The digital bank targets to be Singapore's fourth largest retail bank, CEO Dwaipayan Sadhu said.