
Keppel sells Keppel China Marina Holdings for $597.4m
It owns the integrated residential cum marina lifestyle development Keppel Cove.
Keppel Corporation sells its 100% stake in Keppel China Marina Holdings Pte Ltd (KCMH) to Delight Prime Limited for $597.4m.
According to a press release, KCMH indirectly owns an 80% interest in Sunsea Yacht Club (Zhongshan) Co. Ltd. (SYCZ) which owns and develops Keppel Cove, an integrated residential cum marina lifestyle development on Modao Island in Zhongshan, China.
"The Divestment is in line with Keppel Land’s strategy to recycle assets to seek higher returns and rebalance its portfolio to focus on selected high-growth cities in China," Keppel said.