SINGAPORE (Dec 3): Keppel REIT (KREIT) on Nov 30 announced that it will be divesting a 20% stake in Ocean Financial Centre to Allianz Real Estate for $537.3 million.

The consideration is 16.8% above the REIT’s historical purchase price of $460.2 million.

Following the completion of the acquisition, KREIT will be left holding 79.9% interest in Ocean Financial Centre via its subsidiary Ocean Properties LLP.

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