- ST Engineering will divest its 51% stake in SPTel for S$148m, realising a one-off gain of ~S$83m. Proceeds will help reduce debt and slightly boost earnings. The deal is expected to close in 4Q25.
- - Read this at SGinvestors.io -
Divestment of SPTel.
- See ST Engineering's announcement dated 17 Jul 2025 – ST Engineering and Singapore Power (SP) have agreed to divest their JV, SPTel, to Seraya AQX (AQX) – a subsidiary of Seraya Partners – for an EV of S$290m on a cash-free, debt-free basis.
- - Read this at SGinvestors.io -
- SPTel operates a nationwide fibre-optic backhaul and enterprise connectivity network in Singapore, reporting revenues of S$62.4m in 2023 and S$71.5m in 2024, but net losses of S$9.2m and S$4.4m. Originally established by SP in 1997, SPTel became a 51:49 JV with ST Engineering after a stake sale in 2017. The divestment is expected to close in 4Q25, pending standard regulatory approvals.
Impact.
- Read more at SGinvestors.io.
