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13 Jun 2025
Sembcorp Boosts Stake in Senoko Energy to 50% with S$72 Million Acquisition
Summary:
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Sembcorp, via its subsidiary Sembcorp Utilities, has completed the acquisition of a 28.6% stake in Lion Power (2008) Pte. Ltd. for S$72 million.
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This raises Sembcorp’s effective ownership in Senoko Energy to 50%, marking a strategic expansion in Singapore’s energy sector.
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The deal includes a S$69 million purchase price and a S$3 million working capital adjustment.
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The acquisition strengthens Sembcorp’s role in enhancing Singapore’s energy security and reliability.
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It is expected to be earnings accretive for FY2025 but will not significantly affect net tangible assets per share.
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The move aligns with Sembcorp’s ongoing efforts to deliver stable, long-term energy solutions.