Keppel's (SGX:BN4) wholly owned subsidiary, M1 Limited, agreed to acquire a 70% stake in Vietnam-based ADG National Investment and Technology Development through the unit's subsidiary, AP Tech Holding, for a maximum aggregate consideration of about 719.88 billion Vietnamese dong.
The transaction will be settled through a combination of subscription of new shares to be issued by ADG and purchase of shares of all existing shareholders, according to a filing with the Singapore Exchange on Tuesday.
ADG's principal activities involve the distribution of information and communication technology in Singapore.
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