Date: November 23, 2018
Keppel Infrastructure Fund Management Pte Ltd, in its capacity as Trustee-Manager of Keppel Infrastructure Trust (KIT), announced on 15 November 2018 that it has entered into a share sale agreement with certain funds managed by Blackstone and certain management sellers for the proposed acquisition of a 100% interest in Ixom HoldCo Pty Ltd (Ixom) for A$777 million (S$775 million). On completion of the acquisition which is expected in 1Q 2019, KIT’s enlarged portfolio will grow from S$3.8 billion to S$5.1 billion.
Merits of the proposed acquisition:
- A Strong and Stable Infrastructure Business: Supported by a large network of well-positioned infrastructure
- A Business with Growth Potential: Amongst the leading businesses in the provision of key chemicals for fundamental industries with favourable market trends
- Stable and Resilient Cash Flows: Large and diversified customer base, as well as long-term customer relationships
- Complementary Business Driving Sustainable Growth: DPU yield accretive acquisition that strengthens KIT’s portfolio mix and overall value proposition
Please see http://www.kepinfratrust.com/news_item.aspx?sid=8222 for more information.
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