Sembcorp Industries U96 , on May 10, announced that “no definitive transaction” has been made with regard to SembWaste, the group’s waste management unit.
The statement was released a day after media reports floated that KKR, a US private equity group, and Australia’s Macquarie Asset Management were among the potential bidders in SembWaste.
HSBC was also said to be hired by Sembcorp to run the sale.
A March 23 article by Bloomberg also said that Sembcorp could seek as much as US$700 million ($927.8 million) from the sale of SembWaste, with other investment firms and companies expressing interest in the business.
“Sembcorp regularly reviews its portfolio from time to time to ensure strategic fit and maximise shareholder value. No definitive transaction in respect of any potential sale has been entered into by Sembcorp with any party, and there is no certainty that any such transaction will materialise,” says Sembcorp on May 10.
It adds that it will make an “appropriate announcement” if there are any material developments.
See also: Sembcorp issues $350 mil of guaranteed notes due 2036 at 3.65%
As at 9.12am, shares in Sembcorp are trading 3 cents higher or 0.65% up at $4.62.
