ST Engineering's Electronics arm acquires 51% equity stake in SP Telecommunications


Singapore Technologies Engineering Ltd (ST Engineering) today announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics), has entered into a conditional share purchase agreement to acquire a 51% equity interest in SP Telecommunications Pte Ltd (SPTel) from Singapore Power Limited (SP) (Proposed Transaction) for a purchase consideration estimated at S$54m, to be finalised post-closing, subject to a maximum of S$60m (Purchase Consideration). SP will retain a 49% equity interest in SPTel.

SPTel owns, builds and operates communication and infrastructure services in Singapore. It owns an extensive network of fibre optic back-haul infrastructure and facilities.

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