HTV Dai Phuoc will purchase the stake in two tranches of 5% and 30%. The company will pay a cash consideration of VND320 billion ($16.8 million) for the 5% stake; the amount will be paid in full once the equity transfer is registered with the regulatory authorities.
Keppel Limited’s subsidiary, Jencity Limited, is divesting its 70% stake in Saigon Sports City Limited (SSCL). SSCL holds the right to develop a plot of land measuring some 64 hectares in Vietnam’s Ho Chi Minh City.
In its Sept 30 statement, Keppel says Jencity will divest 35% of SSCL’s charter capital to HTV Dai Phuoc Company Limited while the other 35% will be sold to Vinobly Investment Real Estate Joint Stock Company. Jencity will still hold the remaining 30% in SSCL.
