, Singapore
410 views
Photo from Shutterstock

Sembcorp sells Sembcorp Environment to TBS Energi for $405m

Indonesia's TBS Energi operates a waste management portfolio in Singapore.

Sembcorp Industries has sold its wholly-owned subsidiary, Sembcorp Environment (SembEnviro), for $405m.

It sold SembEnviro to  SBT Investment 2, a wholly-owned subsidiary of the Indonesian Stock Exchange-listed TBS Energi Utama Tbk (TBS).

SembEnviro's sale price reflects a 43% premium over its book and net asset value as of 30 June.

TBS operates a waste management portfolio in Singapore and Indonesia, with its subsidiary Asia Medical Enviro Services focused on biohazardous and medical waste treatment in Singapore.

The parties expect to complete the transaction by the first half of 2025.
 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!