The earn out payments – which are subject to the attainment performance milestones – will not exceed US$20 million. The sum of these payments would amount to the consideration payable, Keppel Corp explains in a Dec 13 regulatory filing.
Keppel Corp, Keppel Asia Infrastructure Fund (KAIF) and a co-investor of the fund, are set to acquire 51% of the issued share capital in Cleantech Renewable Assets.
The acquisition will be made from Cleantech Energy Corporation, through Cloud Alpha at a consideration price of US$130 million ($177.7 million).
