SINGAPORE (July 10): Singtel announced Monday that it has entered into a unit purchase agreement with the trustee-manager of NetLink NBN Trust to divest its 100% stake in NetLink Trust on the listing date for an aggregate consideration of $1.9 billion.

This comprises a cash consideration of $1.1 billion, as well as consideration units constituting approximately 24.99% stake in NetLink NBN Trust, which was established primarily for the purpose of owning all of the units of NetLink Trust.

Upon completion of the divestment, the 24.99% stake in NetLink NBN Trust will be held through Singtel’s wholly-owned subsidiary, Singtel Interactive.

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