Keppel Corp posts plans to acquire SPH ex-media for $2.2b

The proposed transaction is expected to be completed by December 2021.

Keppel Corporation announced its plans to fully acquire SPH, following the latter’s move to carve out all its media assets, for a proposed amount of $2.2b.

The move is a part of Keppel’s Vision 2030, which focuses on the areas of urban development, connectivity and asset management.

“The two companies are already close partners in businesses such as M1, Prime US REIT, and the development of the data centre at Genting Lane in Singapore. The acquisition would allow us to reap further synergies between Keppel and SPH, and also allow Keppel to enter the fast-growing PBSA sector and accelerate our expansion in senior living,” said Keppel CEO Loh Chin Hua in a disclosure to the SGX.

The proposed transaction is expected to be completed by December 2021, subject to the approval of Keppel’s and SPH’s shareholders, and the sanction of the scheme by the High Court of Singapore.

“If the transaction is successfully completed, Keppel will hold approximately 20% stakes in both Keppel REIT and SPH REIT and we are fully committed to supporting the growth of the two REITs. We will be able to harness synergies from managing SPH REIT as a part of Keppel Capital’s much larger asset management platform, with a pipeline of potential assets which can be injected into the two REITs,” Loh added.

Follow the link s for more news on

Keppel Corporation

SPH

mergers and acquisitions

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia