Keppel T&T buys into the US

The once staid firm of Keppel has bought a stake in a US IT services company, showing that its ambitions are now global.

Keppel TT of Singapore has announced it has bought a 20% equity stake in US IT services company, Computer Generated Solutions CGS. Keppel paid $80 million for the investment, which includes an option to purchase a further 10% of the US firm within three years for either $40 million or $50 million depending on the date of exercise of the option.

Keppel TT will issue 75 million new shares to pay for the deal. The...

To continue reading, please login or register for free

Click for more on: keppel | tt | buys | us

Print Edition

FinanceAsia Print Edition


  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...