Keppel Infrastructure Trust (KIT) commenced trading on the Singapore Exchange today after completing its merger with CitySpring Infrastructure Trust.
CitySpring Infrastructure Trust announced yesterday that it has completed its acquisition of three of KIT’s assets, namelySenoko Waste-to-Energy (WTE) Plant, Keppel Seghers Tuas WTE Plant and Keppel Seghers NEWater Plant.
“With the injection of these three assets into its portfolio, the enlarged KIT is the largest Singapore infrastructure-focused business trust, listed on the Singapore Exchange,” KIT stated.
KIT will also undertake its approved acquisition of Keppel Merlimau Cogen Plant (KMC), an operating top tier 1,300 MW gas-fired power plant in Singapore.
After the KMC acquisition, which is expected to be completed by 3Q 2015, KIT will have an expected total asset size of over S$4 billion.
The merger was first revealed in November
last year. Keppel Corp is the largest unitholder with 22.9% ownership
in the trust, while Temasek is the second-largest unitholder with 19.97%
ownership in the trust.
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