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.