The market value represented by the sale shares as at Apr 2 was $10.4 million, Keppel notes.
Keppel Limited has divested all of its 29.52% stake in Keppel Philippines Holdings (KPHI) to Kepwealth for PHP462.9 million of $10.8 million, according to a bourse filing on Apr 2.
The sale consideration price was arrived at on a willing buyer willing seller basis, taking into account the valuation of the shares in KPHI conducted by an independent valuer.
