Sembcorp Industries' wholly-owned subsidiary is disposing its 40% stake in SembSita Pacific to its joint-venture partner, Suez Environnement Asia, for A$485 million ($488.8 million).
Sembcorp Environment signed an agreement with Suez for the sale of SembSita, an investment holding entity for an integrated waste management business in Australia.
The divestment is expected to result in a net gain of about $350 million for the group in the financial year ending Dec 31, 2015.
It will require approval by the Foreign Investment Board Review in Australia, which is expected to be completed by the fourth quarter this year.
Shares in Sembcorp Industries ended two cents or 0.6% lower at $3.50 on Friday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
Sembcorp Environment signed an agreement with Suez for the sale of SembSita, an investment holding entity for an integrated waste management business in Australia.
The divestment is expected to result in a net gain of about $350 million for the group in the financial year ending Dec 31, 2015.
It will require approval by the Foreign Investment Board Review in Australia, which is expected to be completed by the fourth quarter this year.
Shares in Sembcorp Industries ended two cents or 0.6% lower at $3.50 on Friday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment