SINGAPORE — Keppel is acquiring major European real estate firm Aermont Capital in two tranches for up to 931.9 million euros ($1.02 billion), the Singaporean company said Wednesday, looking to expand its footprint beyond Asia and become a global asset manager.
After acquiring an initial 50% stake for a maximum of 356.9 million euros by mid-2024, the Singaporean group plans to buy the remaining stake for up to 575 million euros by 2028. The deal is expected to be funded through a combination of cash and treasury shares that Keppel acquired via a share buyback program.
