SINGAPORE (May 21): Sembcorp Industries announced that its wholly-owned subsidiary will be divesting its 60% stake in Sembcorp Tay Paper Recycling to Tay Paper Resources for $6.0 million.

Sembcorp Tay Paper, previously known as Sembcorp Environmental Management, is a subsidiary of Sembcorp Environment. It provides a range of paper recycling services as well as on-site and off-site shredding services in Singapore.

The consideration was arrived at taking into account the earnings and book value of the business and the relevant transaction multiples.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook