Sembcorp ink deal to increase stake in Senoko

The acquisition will expand both companies’ sustainable energy capabilities.

Sembcorp Industries (Sembcorp) has signed a sale and purchase agreement that will increase its interest in Senoko Energy Pte. Ltd. (Senoko Energy) to a maximum of 70%.

In a bourse filing, Sembcorp said the deal was signed by its wholly owned subsidiary Sembcorp Utilities Pte Ltd with KPIC Netherlands B.V., Kyuden International Corporation, and Japan Bank for International Cooperation (JBIC).

The agreement states that Sembcorp will acquire up to 57.1% interest in Lion Power (2008) Pte. Ltd., which holds a 70% interest in Senoko Energy.

Following the completion of the acquisition, Sembcorp will increase its stake, subject to pre-emption by Marubeni Corporation in Lion Power. It is also seen to “open more opportunities for Sembcorp and Senoko Energy to drive energy transition and deliver sustainable and reliable energy to its customers and Singapore.”

The maximum purchase consideration for the proposed acquisition is $144m to be funded through Sembcorp’s internal cash resources and/or external borrowings.

The acquisition is expected to be completed in the second quarter of 2025.

The Energy Market Authority of Singapore has reviewed the proposed takeover and has expressed no objections.

This transaction is in the ordinary course of business. It is expected to be accretive to the earnings of Sembcorp and would not have a material impact on its net tangible assets per share for the financial year ending 31 December 2025.

Follow the link s for more news on

Sembcorp Industries

Senoko Energy

Acquisitions

Singapore Energy

A NOTE FROM SINGAPORE BUSINESS REVIEW

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