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Singtel divests 0.8% direct stake in Airtel, gaining $0.95b
After the divestment, Singtel’s effective stake in Airtel will be 29.0%.
Singtel raised $0.95b from its divestment of a 0.8% direct stake in Airtel to GQG Partners, a US-based investment firm.
After the divestment, Singtel will have an effective stake in Airtel of 29.0%, estimated to be worth $33b.
In 2022, Singtel sold a 3.3% direct stake in Airtel for $2.54b.
In a bourse filing, Singtel said the divestment is part of its capital recycling efforts to unlock value from its assets.
The latest divestment brings Singtel’s total capital recycled to $8b since 2021.
From capital recycling, Singtel has been able to return $0.8b in special dividends to shareholders from capital recycling.
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