Keppel Ltd. has received conditional approval for a 10-year land tenure lease extension for its Data Centre Campus in Singapore, allowing a final S$350 million payment as part of a divestment to Keppel DC REIT. The company’s share of the payment is expected to be about S$70.9 million. This, along with recent acquisitions, is expected to increase Keppel DC REIT’s assets under management by 8.5% to S$6.2 billion. Keppel’s stock is currently trading 0.58% lower at S$10.29 on the Stock Exchange of Singapore.

Read more at Nasdaq: Keppel Secures 10-year Lease Extension; Unlocks S$350 Mln Payment From Keppel DC REIT