Keppel Land has terminated the divestment of its 100% stake in Flemmington Investments, announced Keppel Corporation BN4 on May 12.
No further reasons were given, except that Keppel Land, the purchaser, as well as the relevant parties have already entered into an agreement to terminate the divestment agreements.
The termination is not expected to have any material impact on the group’s net tangible assets per share or earnings per share for the current financial year.
Keppel Land, on March 15, announced that it was divesting its entire stake in Flemmington Investments for a total consideration of US$98.6 million ($134.6 million).
Shares in Keppel Corp closed 3 cents lower or 0.47% down at $6.40 on May 12.
