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Keppel to Divest 39% Stake in Merlimau Cogen Plant to Keppel Infrastructure Trust for SG$128 Million

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-- Keppel (SGX:BN4) has agreed to divest its 39% indirect stake in Keppel Merlimau Cogen to Keppel Infrastructure Trust (SGX:A7RU) for about SG$128.1 million, according to a Monday filing with the Singapore Exchange.

Shares of the infrastructure company were up nearly 1% in Tuesday trading.

Keppel Merlimau Cogen owns the Keppel Merlimau Cogen Plant on Jurong Island, which has a licensed generation capacity of around 1,300 megawatts.

The transaction, executed via Keppel's subsidiary KCIF Investments, involves the transfer of one share in Kindle Energy and outstanding shareholder loans to the trust.

Keppel Infrastructure Trust currently holds a 51% stake in Keppel Merlimau Cogen.

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