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Keppel Land China sells stake in Keppel Cove in Zhongshan for $597.4 mil

Property

Keppel Land China sells stake in Keppel Cove in Zhongshan for $597.4 mil

PC Lee Published on Thu, Oct 26, 2017 / 7:18 AM GMT+8

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SINGAPORE (Oct 26): Keppel Land China has entered into an agreement to divest its 100% stake in Keppel China Marina Holdings (KCMH) to Delight Prime for a total consideration of RMB 2.9 billion ($597.4 million).

Keppel Land China is a wholly-owned subsidiary of Keppel Land, the property arm of the Keppel Group.

The transaction will yield for Keppel Land China a divestment gain of about $290 million upon completion, which is expected to take place by end 2017.

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