Home News Aviation & Engineering

Keppel T&T divests entire stake in Asia Airfreight Terminal Company to SATS for $35.8 mil

Felicia Tan
Felicia Tan2/23/2022 07:36 PM GMT+08  • 1 min read
Keppel T&T divests entire stake in Asia Airfreight Terminal Company to SATS for $35.8 mil
As at Dec 31, 2021, the book value and net tangible asset value of the sale shares stood at HK$199.4 million or $34.5 million.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Keppel Telecommunications & Transportation Limited (Keppel T&T) is divesting its entire 10% stake in Asia Airfreight Terminal Company Limited (AAT) to SATS for a total cash consideration of HK$207 million ($35.8 million).

The divestment is part of transactions under a sale and purchase agreement (SPA) that was entered into by Keppel T&T, Federal Express Corporation (FedEx), Torres Investments Limited (Torres), SATS and Eastern Option Limited (EOL). FedEx and Torres are the vendors and SATS and EOL are the purchasers.

Under the SPA, Keppel T&T and FedEx will divest their respective stakes in AAT to SATS, while Torres will divest its stake in AAT to SATS and EOL.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now