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Announced

Keppel to acquire a 50% stake in Aermont Capital for $388m.

Financials

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Transaction Value£306m
Consideration TypeOrdinary Shares, Cash
Capital Owned-
Capital Bid For50%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Majority

Private

Single Bidder

asset management

equity investment

real estate investment

Real Estate Holding and Development

United Kingdom

Private Equity

Acquisition

Private Equity

Pending

Cross Border

Friendly

Synopsis

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Keppel, an infrastructure company, agreed to acquire a 50% stake in Aermont Capital, a real estate manager, for $388m. “Aermont Capital runs an established and highly successful asset management platform in Europe, raising the most capital among European real estate funds in the last five years, despite the COVID-19 pandemic. The acquisition of an initial 50% stake in Aermont, with a pathway to an eventual 100% ownership and full integration, marks a major strategic step forward in Keppel’s ambition to be a global asset manager and operator, availing us of a highly attractive European platform with strong recurring fees and a premium network of global LPs," Loh Chin Hua, Keppel CEO.

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