Keppel Corp fails to hit compulsory acquisition threshold for KepLand privatisation bid

It now owns 95.1% of KepLand.

Keppel Corp has failed to hit the compulsory acquisition threshold in its attempt to take Keppel Land private. KepCorp owned 95.1% of KepLand when the offer closed yesterday, failing to breach the level required for the higher offer price of $4.60 per share.

KepCorp will instead pay out the lower offer price of $4.38 per share. Remaining Keppel Land shareholders have the right to require KepCorp to acquire their shares at $4.38 in cash.

KepCorp reiterated that it intends to delist Keppel Land after the close of the offer.

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