Keppel Infrastructure chosen as preferred bidder for Blackstone's Ixom sale

The deal could be worth A$1b, reports said.

Keppel Infrastructure Trust (KIT) is the preferred bidder for Blackstone’s sale of its biggest Australian asset, the water treatment and chemical distribution firm Ixom Holdco Pty Ltd (Ixom), the company said.

According to KIT, it will complete any final stage due diligence and enter into negotiations to finalise the share sale agreement. It did not disclose the financial details of the agreement.

The Australian Financial Review reported that the deal is expected to be worth A$1b. Keppel has also been selected as the preferred bidder after an auction run by JPMorgan.

“There is no certainty or assurance that a transaction will materialise or be concluded,” KIT added.

Ixom owns an extensive infrastructure network that includes chlor-alkali plants, import and storage terminals, and distribution assets.