The transaction includes Keppel Logistics’ businesses in Singapore, Malaysia and Australia, as well as UrbanFox. The transaction, however, will not include Keppel T&T’s logistics operations in China, which are the Jilin Food Zone Logistics Park, the Tianjin Eco-City Distribution Centre, the Keppel Wanjiang International Coldchain Logistics Park. Keppel Logistics’ stakes in Keppel Puninar Logistics in Indonesia and Indo-Trans Keppel Logistics in Vietnam will also not be included in the transaction.
Keppel Telecommunications & Transportation (Keppel T&T) is divesting its entire stake in Keppel Logistics to Geodis International SAS for a total consideration of approximately $80 million in cash.
The consideration, which takes into account the enterprise value, financial position and Keppel Logistics’ business prospect, will value the company at an enterprise value of $150 million on a cash free, debt free basis.
