ST Kinetics completes purchase of manufacturing assets from Ticel Equipamentos Ltda
Whole deal worth approximately S$9.3m.
Singapore Technologies Engineering Ltd (ST Engineering) announced that its land systems arm, Singapore Technologies Kinetics Ltd (ST Kinetics), has completed its acquisition of manufacturing assets, intellectual property and relevant manufacturing expertise from Ticel Equipamentos Ltda. for a final purchase consideration of BRL17.3m (approximately S$9.3m).
The transaction was completed following the fulfilment of conditions precedent.
This acquisition is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.