TEE International expands into environmental business

SINGAPORE (Nov 6): TEE International, the Engineering, Infrastructure and Real Estate group, is expanding into the environmental business space.

TEE Infrastructure, its wholly-owned subsidiary, has entered into an option agreement to acquire the shares of Chiang Kiong Environmental, which in turn owns Chiang Kiong Resources (Paper), as well as Envotek Engineering.

TEE Infrastructure will exercise the option for its majority 50.1% stake of Chiang Kiong Group for a cash consideration of $9.3 million upon completion of satisfactory due diligence.

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