The consideration, which will be paid in two tranches, factored in the adjusted net asset value of Willowville’s shares, based on the agreed value of the site attributable to the shares sold.
Keppel Land Vietnam Properties Pte. Ltd., the wholly-owned subsidiary of Keppel Land, is divesting 100% of its stake in Willowville to Oasis Asia Real Estate Investment Pte. Ltd. for a consideration of US$5.5 million ($7.4 million).
Willowville owns a 60% stake in a project company that holds the rights to develop a site in District 1 of Ho Chi Minh City, Vietnam.
