Under the SPA, Keppel T&T and FedEx will divest their respective stakes in AAT to SATS, while Torres will divest its stake in AAT to SATS and EOL.
Keppel Telecommunications & Transportation Limited (Keppel T&T) is divesting its entire 10% stake in Asia Airfreight Terminal Company Limited (AAT) to SATS for a total cash consideration of HK$207 million ($35.8 million).
The divestment is part of transactions under a sale and purchase agreement (SPA) that was entered into by Keppel T&T, Federal Express Corporation (FedEx), Torres Investments Limited (Torres), SATS and Eastern Option Limited (EOL). FedEx and Torres are the vendors and SATS and EOL are the purchasers.
