Keppel Infrastructure Trust (SGX:A7RU) entered into a conditional sale and purchase agreement to acquire remaining 30% stake in Singspring Pte Ltd. from Hyflux Ltd (OTCPK:HYFX.F) for $12 million on July 7, 2021. The acquisition is subject to approvals from PUB, SingaporeÆs National Water Agency and the lenders under the term loan facility taken up by SingSpring Pte Ltd being obtained. The above-mentioned acquisition is not expected to have any material financial impact on the distribution per unit of KIT for the financial year ending December 31, 2021. As of October 27, 2021, The transaction is pending regulatory approval and is expected to be completed in Q4, 2021. Lee Taylor and Andrew Brereton of King & Spalding acted as legal advisor to Hyflux Ltd.
Keppel Infrastructure Trust (SGX:A7RU) completed the acquisition of Singspring Pte Ltd. from Hyflux Ltd (OTCPK:HYFX.F) on June 30, 2022.