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Photo from Keppel Corporation

Keppel units to acquire 80% of 800 Super's shares

The transaction is expected to close in Q422.

Keppel Infrastructure Holdings (KI) and Keppel Asia Infrastructure Fund LP (KAIF) will be acquiring 80% of the waste management firm, 800 Super Holdings, Keppel Corporation has announced.

KI and KAIF will be acquiring the shares through Harmony Infrastructure, s a wholly-owned direct subsidiary of Harmony Holdco.

In a bourse filing, Keppel Corporation said the consideration payable to seller 8S Capital Holdings will be $380m, which is the base purchase price, "plus an additional amount equal to 5% per annum on the base purchase price compounded monthly, from 30 June 2022 through to the date of completion."

However, if leakages occur between 30 June to the data of completion, the consideration will "decrease by the amount of such leakages and interest accrued thereon at a rate of 5% per annum, compounded monthly."

The deal is expected to close in Q422. Following the transaction's completion, 800 Super will be an associate company of Keppel Corporation.

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