Ada Lim of OCBC Investment Research has kept her "buy" call and 50 cents fair value on Keppel Infrastructure Trust after its planned investment in Global Marine Group, a UK-based company that installs subsea cables.
Under terms of the deal, KIT is buying a 46.7% stake in GMG worth US$90.6 million from the Keppel Infrastructure Fund.
Following the acquisition, KIT will provide equity commitments of up to US$52.5 million to fund GMG’s growth plans such as building new vessels over the next three years.
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