Keppel acquires Juventas DC from Causeway

The sale totalled $36.1m.

Keppel Corporation Limited has announced the acquisition of all of the shares in the capital of Juventas DC Pte. Ltd. (JPL) from Causeway DC Pte. Ltd (CDCPL).

JPL was a subsidiary of CDCPL and holds shares in the capital of Keppel DC Malaysia 1 Sdn. Bhd., which owns and operates a data centre for a third party in Johor, Malaysia.

ALSO READ: Ascendas REIT, Ascott Residence Trust, Ascendas India revise names

The sale was valued at $36.1m,  taking into account the consolidated net asset value of JPL and the Project Company, less the carrying value of the Investment Property, plus the agreed property value, being the average of the valuations of the Investment Property set out in certificates to be delivered to CDCPL by two independent valuers appointed by each of the Parties to determine the value of the Investment Property as at the date of the Put Option Notice on an “as is where is” basis.

Following completion of the Proposed Transaction, JPL has now become a wholly-owned subsidiary of the Keppel.