Keppel to buy Aermont Capital in two phases for up to 931.9 million euros

The initial purchase involves a deposit, a closing amount, and post-closing adjustments.

Keppel plans to acquire the remaining shares later, with a total consideration capped at 931.9 million euros.

The deal's base consideration is tied to Aermont's performance, and both parties have agreed on the relevant multiples. This move allows Keppel to establish a robust presence in Europe, diversifying beyond the Asia-Pacific region.

The first phase, slated for completion in H1 2024, will be financed through a mix of cash and treasury shares obtained via Keppel's share-buyback program.

The subsequent share acquisition is scheduled for 2028.