Keppel to privatise Keppel T&T for $165m.

Keppel Corp plans to privatise Keppel Telecommunications & Transportation with a S$1.91 per share cash offer. Offer indicates a 40% premium over the company’s one-month volume weighted average price of S$1.365. This offer implies equity value of Keppel T&T at nearly S$1.1bn ($783m). Keppel Corp currently owns 79.09% of the shares in Keppel T&T, which means deal value of S$225m ($165m). "The proposed scheme is consistent with Keppel Corporation’s strategy to simplify the Keppel group’s corporate structure, with a view to improving capital allocation and better aligning Keppel T&T’s interests with the rest of the group,'' said Keppel Corp.