Continue reading this on our app for a better experience

Open in App
Floating Button
Home News Property

Keppel Land to divest stake in Willowville for $7.4 mil

Felicia Tan
Felicia Tan • 1 min read
Keppel Land to divest stake in Willowville for $7.4 mil
Willowville has a 60% stake in a project company that holds the rights to develop a site in District 1 of Ho Chi Minh City, Vietnam. Photo: Keppel Corp
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

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.

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.

The adjusted net value of the sale shares was around US$5.5 million as at Dec 31, 2022.

The divestment is expected to be completed by the first half of 2023.

According to Keppel Corporation, the divestment is in line with the group’s Vision 2030 asset monetisation plans.

See also: Hong Lai Huat signs strategic term sheet with The Assembly Place to bring concept of co-living to Cambodia

Shares in Keppel closed 3 cents lower or 0.42% down at $7.08 on Feb 8.

×
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.