The completion of the transaction is expected to take place by 4Q2022. Following the completion, Keppel’s interest in KPDL will increase to 90%.
Keppel Land through its wholly-owned subsidiary is acquiring a 4% stake in Kingsdale Development (KPDL) from Prime Growth Investments for US$6 million ($8.3 million).
Keppel Corp — through its wholly-owned subsidiaries — currently holds 86% of the issued share capital of KDPL, while Prime Growth and another third party hold 4% and 10% of the issued share capital respectively.
