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Pacific Century Regional Developments to Divest Stake in India's KSH Distriparks for SG$19 Million

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Pacific Century Regional Developments (SGX:P15) subsidiary, PCRD Services, agreed to sell its indirect 49.87% stake in India's KSH Distriparks to Delhi International Cargo Terminal for around SG$19.3 million, according to a Saturday filing with the Singapore Exchange.

Under the agreement, all other shareholders of the company will also sell their combined 50.13% stake in the inland container depot and warehousing unit.

The investment holding company expects to generate an estimated gain of around SG$4.7 million from the transaction, with proceeds to be used to repay borrowings and pay dividends.

Closing of the transaction is expected no later than Oct. 15.

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