Keppel Land unit to divest 100% stake in Willowville for $7.37m

The purchaser of the stake will pay in two tranches.

Keppel Land Limited’s wholly-owned subsidiary, Keppel Land Vietnam Properties, will sell 100% of its stake in Willowville Pte. Ltd. (WPL)  to Oasis Asia Real Estate Investment.

In a bourse filing, Keppel Corporation said Oasis Asia Real Estate Investment will pay Keppel Land Vietnam Properties a cash consideration of $7.37m (US$5.5m) in two tranches. 

The divestment of Keppel Land Vietnam Properties’ stake in WPL will take palace by the first half of 2023.

Following completion, WPL will cease to be a subsidiary of Keppel Corporation.

The divestment is not expected to have any material impact on the net tangible assets per share or earnings per share of Keppel Corporation for the current financial year.