Sembcorp Industries receives South African court ruling on subsidiary sale

The appeal judgment affirmed that the share purchase agreement is valid and enforceable.

Sembcorp Industries (Sembcorp) has announced that the Supreme Court of Appeal of South Africa has delivered its judgment regarding ongoing proceedings tied to the sale of Sembcorp Utilities (Netherlands) N.V.'s 100% stake in Sembcorp Utilities South Africa and its effective 100% stake in Sembcorp Silulumanzi (RF) (Pty) Ltd.

The stakes were sold to South African Water Works Pty Ltd under a share purchase agreement.

The appeal judgment, issued on 5 December, affirmed that the share purchase agreement is valid and enforceable, resolving a key aspect of the proceedings.

Whilst the judgment is final, there remains the possibility of an application for leave to appeal to South Africa's Constitutional Court.

Sembcorp said that the ruling is not expected to materially affect its earnings per share or net tangible assets per share for the financial year ending 31 December 2024.

Follow the link for more news on

Sembcorp Industries

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