Singapore Technologies Engineering Ltd (ST Engineering) has announced that ST Aerospace Resources Pte. Ltd. has signed an agreement to divest 50% of its equity stake in Keystone Holdings (Global) Pte. Ltd. to SJ Aviation Capital Pte. Ltd., a Singapore based subsidiary of Sojitz Corporation, for a consideration estimated to be US$10.7m (approximately $15.3m) (Proposed Transaction). The consideration, which will be finalised at completion, was arrived at, taking into account Keystone Holdings’ current performance and net asset value. Upon completion, ST Aerospace Resources and SJ Aviation Capital will each own a 50% shareholding in Keystone Holdings. The completion of the agreement
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