Published:
TEE International acquires 25% stake in Myanmar airport project
It joins two other companies in the consortium.
According to OCBC Investment Research, TEE International, Yongnam Holdings and Samwoh Corp have joined forces to participate in a consortium with JGC Corp and a unit of Changi Airport International to tender for the construction and operation of Myanmar’s new international airport.
Here's more:
TEE and Samwoh will each take a 25% stake in a special purpose vehicle (SPV) that will in turn supply up to 60% of the project consortium’s equity.
Yongnam will own 50% of the SPV and represent it in all negotiations involving the project.
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