Keppel Corporation sells stake in Swedish energy business

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Keppel Corporation sells stake in Swedish energy business

Keppel Corporation Limited (KCL)'s indirect wholly-owned subsidiary, Keppel Seghers Holdings B.V. (KSHBV), has sold its entire interest in Amotfors Energi AB, representing 22% of its issued and paid up capital, and KSHBV’s loan to Amotfors of SEK15.4 million (US$2.15 million) for a cash consideration of SEK 4.

Amotfors is an associated company of the company which principal activity is to own, operate and maintain a waste-to-energy plant in the city of Amotfors in Sweden.

The purchasers are existing shareholders of Amotfors which comprise a group of Swedish institutions collectively holding 40.5% of the issued and paid up capital of Amotfors immediately prior to the Sale, Nordic Paper Amotfors AB holds the remaining 37.5%.

Keppel Corporation is a Singaporean company that specialises in marine, property and infrastructure businesses. With a 32% rise in net profit in the third quarter of 2013, Keppel Corporation is one of the largest conglomerates in Singapore and one of the world's largest builders of offshore oil rigs.

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