"This proposed transaction will enable SPTel to grow under a new owner whose primary mandate is in investing and growing digital infrastructure platforms.
Singapore Technologies Engineering and Singapore Power are selling their broadband joint venture SPTel to Seraya Partners for an enterprise value of $290 million.
SPTel was started by SP in 1997 and in May 2017, ST Engineering acquired a 51% stake. Seraya Partners is a private equity firm focusing on infrastructure investments, with an AUM of US$1.8 billion as indicated on its website.
