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Keppel Land divests stake in West Bali site

Property

Keppel Land divests stake in West Bali site

PC Lee Published on Tue, Nov 21, 2017 / 5:19 PM GMT+8

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SINGAPORE (Nov 21): Keppel Land’s associate PT Purimas Straits Resort is divesting a 20.5ha site in West Bali’s Tanah Lot district to PT Bali Sudamala Development.

Concurrently, Keppel Land will divest its entire 24.5% shareholding interest in PT Purimas Straits Resort through a process of capital reduction and sale of shares.

Keppel Land expects to record a net divestment gain of about $17.6 million from the transactions by end December.

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