Oct. 17 (Bloomberg) -- Keppel Land Ltd. said it will sell its 87.5 percent stake in Ocean Properties Pte to K-REIT Asia for S$1.571 billion.
Keppel Land will gain a net S$492.7 million when the deal is completed, according to a statement today.
Ocean Properties is the owner of Ocean Financial Centre in Singapore.
To contact the reporter on this story: Kyunghee Park in Singapore at firstname.lastname@example.org
To contact the editor responsible for this story: Ryan Woo at email@example.com