Business

Sembcorp completes divestment of Chilean water business & exits Chilean market

Sembcorp Industries has completed the divestment of its entire interests in its water business in Chile for CH$27.8 billion ($38.9 million) in cash. The water business was divested to Spanish construction and engineering service group Sacyr. The net asset value of the assets to be sold was previously reported to be $77.7 million. Hence, arising from the divestment, an impairment of $4.64 million was booked due to the difference between the sale value and the net asset value of the business. Following the divestment, Sembcorp has exited the Chilean market.

Source: The Business Times

Categories: Business