Following the acquisition, KIT will provide equity commitments of up to US$52.5 million to fund GMG’s growth plans such as building new vessels over the next three years.
Ada Lim of OCBC Investment Research has kept her "buy" call and 50 cents fair value on Keppel Infrastructure Trust (SGX:A7RU
) after its planned investment in Global Marine Group, a UK-based company that installs subsea cables.
Under terms of the deal, KIT is buying a 46.7% stake in GMG worth US$90.6 million from the Keppel Infrastructure Fund.
