Sembcorp completes acquisition of additional stake in Senoko Energy

It now owns half of the energy company.

Sembcorp Industries (Sembcorp) has completed the acquisition of an additional interest in Senoko Energy Pte. Ltd. (Senoko Energy), bringing its total stake to 50% in the latter.

In a disclosure, Sembcorp said the increase in its stake was achieved after its wholly-owned subsidiary Sembcorp Utilities Pte Ltd completed the acquisition of a 28.6% interest in Lion Power (2008) Pte. Ltd.

The transaction is valued at $72m, comprising a purchase price of $69m and a working capital adjustment of $3m.

The acquisition is expected to be accretive to the earnings per share of Sembcorp for the financial year ending 31 December 2025. It will not have a material impact on the net tangible assets per share of Sembcorp.