DBS backs Keppel's buyout of property arm

DBS provides bilateral loan to Keppel Corp to fund its buyout of property arm Keppel Land for up to $2.6 billion.

DBS backs Keppel's buyout of property arm

DBS is providing a bilateral loan to conglomerate Keppel Corp to finance the acquisition of shares in its property arm Keppel Land that it does not already own for up to S$3.2 billion $2.6 billion.

The proposed deal is the latest privatisation as the city state's developers are faced with growing headwinds.

The size of the loan has not been disclosed but, according to a source familiar with the matter, part of the offer will be funded...

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