, Singapore

Hyflux to divest 30% stake in desalination plant to Keppel subsidiary

This sale will give Keppel Infrastructure Trust 100% stake in the SingSpring Desalination Plant.

Embattled utility firm Hyflux is set to sell its 30% stake in the SingSpring Desalination Plant to Keppel Infrastructure Trust (KIT) for $12m, according to its judicial manager, Borrelli Walsh Pte. Limited.

To date, KIT owns 70% of SingSpring.

Upon completion of the sale, a subsidiary of Keppel Infrastructure Holdings will take over the operations and maintenance of SingSpring.

Hyflux employees will be offered continuing roles at SingSpring as employees of the Keppel Infrastructure subsidiary.

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