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Announced

21 Oct 2020

Completed

21 Oct 2020

Keppel completed the acquisition of 49% stake in Kapstone Constructions.

Synopsis

Keppel, through wholly-owned subsidiary Lipalto, completed the acquisition of 49% stake in Kapstone Constructions. Financial terms were not disclosed. Kapstone is Lipalton's joint venture with Indian developer Rustomjee Group, to develop the 51.4 hectare Urbania integrated township in the Thane district of Mumbai.

Principals

target

Kapstone Constructions Private

bidder

Keppel Corp

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Bidder Team (5)

alpesh parekh

Counsel at AZB & Partners

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vinay butani

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sai krishna bharathan

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monika bhonsale

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£ 644 M

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shivani kabra

Partner at AZB & Partners

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£ 3.54 B

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