Keppel Infrastructure Trust kickstarts asset review of Ixom
Ixom was acquired by Keppel in 2019.
Keppel Infrastructure Trust, through its manager, announced that it has kickstarted its strategic review of its 100% stake in Ixom Holdings Pte Ltd (Ixom) which it acquired in 2019.
“This exercise is part of KIT’s regular asset review process in line with its refreshed strategy following the strategic review conducted at the end of 2021,” KIT’s manager, Keppel Infrastructure Fund Management Pte. Ltd., said in a bourse filing.
The manager further explained that the move was made “with a view to potentially unlocking value from the business so as to further KIT’s growth and maximise long term unitholder return.”
A financial adviser will soon be appointed to assist in the strategic review and possibly “undertake preliminary discussions with various parties to evaluate the viability of options available,” the manager said.
“There is no assurance that any transaction will materialise from such a strategic review or that any definitive or binding agreement will be reached. If and when there are any material developments which warrant disclosure, KIT will, in compliance with applicable rules, make further announcements as appropriate,” the manager added.
Ixom is an industrial infrastructure business based in Australia and New Zealand that supplies and distributes critical water treatment chemicals and industrial and speciality chemicals.
It is also the sole manufacturer of liquefied chlorine in Australia.