ST Engineering sells 49% stake in Takata CPI Singapore for $5.3m

The book value of the equity interest is $4.3m.

Advanced Material Engineering (AME), the land systems subsidiary of ST Engineering, has divested all of its 49% equity interest in motor vehicle parts manufacturer Takata CPI Singapore (Takata CPI) to Joyson Safety Systems International Finance (Joyson) for $5.3m (US$3.9m), and announcement revealed.

The book value of AME’s 49% equity interest as at end October 2019 is $4.3m (US$3.1m). The divestment is not expected to have any material impact on the net tangible assets and earnings of ST Engineering for the current financial year.

Takata CPI was incorporated in 1999 as a joint venture with Joyson holding 51% and AME 49%.

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