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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.
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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.

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