Sembcorp Industries (SGX:U96), through its wholly owned subsidiary, Sembcorp Utilities, has completed the acquisition of an additional 28.6% stake in Lion Power (2008) for S$72 million, according to a filing with the Singapore Exchange on Friday.
The deal boosts the company's stake in Senoko Energy to 50%.
The consideration comprises a purchase price of S$69 million and a working capital adjustment of S$3 million.
Shares of the company were up nearly 2% in recent trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.