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 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 by DBS and the rest by Keppel Corp's own internal cash. The Singaporean lender is also advising Keppel Corp on the buyout together with Credit Suisse.

Keppel Corp on Friday made a cash offer...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222