Keppel sells equity in two local data centers for 50.5 million yuan to its subsidiary trust | Lianhe Zaobao
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Keppel Corporation announced the sale of its remaining stake in two local data centers for SGD 50.5 million to Keppel DC Reit. Upon completion of the transaction, the trust will own 100% of the equity. This is part of Keppel's asset monetization plan, which has resulted in over SGD 2.4 billion in cash generation for the company this year. The trust expects to enhance its distribution per unit through the acquisition, with the distribution per unit projected to increase to 9.525 cents in the fiscal year 2024. After the acquisition, the trust's total leverage ratio will decrease from 29.8% to 29.5%
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