Easybourse, 24 May 2009, Dow Jones
SYDNEY -(Dow Jones)- Keppel Corp. (KPELY) said Sunday it is selling its 45.51% stake in Singapore Petroleum Co. (S99.SG), or SPC, to PetroChina Co. (PTR) for S$1.47 billion.
The deal, involving wholly owned units of the two companies, is for a consideration of S$6.25 per share, Keppel said in a statement. It represents a 24% premium on Friday's closing share price of SPC.
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