Keppel Corporation, a Singaporean infrastructure to asset management company, has announced that its wholly-owned subsidiary, DC Reit Holdings, has signed a sale and purchase agreement to sell about 55.1 million units in Keppel DC Reit, representing about a 4.08 percent stake, for $74.96 million Singaporean dollars ($54.6 million).
The units were sold for at least $0.99 per unit or any such higher price that Swiss investment bank UBS as the placement agent was able to procure.
Keppel DC Reit expects to recognize a gain of about $12.4 million from the sale.
The completion of the sale is expected to take place on September 5.