Bloomberg News

Keppel Land to Sell 87.5% Ocean Properties Stake to K-Reit Asia

October 17, 2011

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 kpark3@bloomberg.net

To contact the editor responsible for this story: Ryan Woo at rwoo5@bloomberg.net


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