Keppel Corporation has bought an 80% interest in a Singaporean environmental services company 800 Super for S$304m (€219m).
Keppel said its subsidiaries - Keppel Asia Infrastructure Fund (KAIF) and Keppel Infrastructure would hold 48% and 32% interest respectively in 800 Super alongside the waste management firm’s co-founder and CEO William Lee’s 20% stake in the S$380m company.
Lee will continue to be 800 Super’s CEO after the transaction is completed.
Christina Tan, CEO of Keppel Capital, the parent company of the manager of KAIF, said: “800 Super’s strong market position will enable it to capture more opportunities as Singapore intensifies its sustainable waste management efforts.“
Cindy Lim, CEO of Keppel Infrastructure, said: “The acquisition of a strategic interest in 800 Super complements and broadens the range of environmental services that Keppel Infrastructure offers.”
She said the acquisition would also create opportunities to synergise operations and enhance the competitive advantages of the two companies.
Founded in 1986, 800 Super is a leading integrated environmental solutions provider in Singapore and has four main operating segments, waste management, waste treatment, integrated public cleaning and other environmental services.
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