M1 will establish the SPV, which will acquire the network assets for a cash consideration of some $580 million based on the net book value of the assets as at end-February.
Keppel DC REIT plans to invest $87 million in M1’s network assets, according to a joint media release dated April 28
M1, a subsidiary of Keppel Corporation, and the manager of the REIT have signed a non-binding term sheet with respect to the proposed investment by Keppel DC REIT into a special purpose vehicle (SPV) which will own and operate M1’s current mobile, fixed and fibre assets.
