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Sembcorp undergoing legal proceedings on the divestment of its municipal water assets in South Africa

Felicia Tan
Felicia Tan11/9/2020 08:39 AM GMT+08  • 2 min read
Sembcorp undergoing legal proceedings on the divestment of its municipal water assets in South Africa
The proceedings are still ongoing as at Nov 9.
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Sembcorp Industries, on Nov 9, announced that it is undergoing legal proceedings in relation to the divestment of its municipal water assets in December 2018.

On Dec 21, 2018, Sembcorp completed the sale of its wholly-owned subsidiary Sembcorp Utilities (Netherlands) N.V.’s (SUNNV) 100% stake in Sembcorp Utilities South Africa (SUSA), as well as its 100% effective stake in Sembcorp Silulumanzi to South African Water Works.

The total proceeds from the sale at the time were ZAR718 million ($70 million).

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