Keppel Infrastructure invests in MET Group

Keppel Infrastructure Holdings Pte Ltd, through Keppel Energy Switzerland Holding AG (an indirect wholly-owned Keppel Infrastructure subsidiary to be incorporated in Switzerland), is investing EUR53.02 million (US$58.8 million) in cash for a 20% stake in MET Holding AG, an integrated European energy company headquartered in Switzerland. In addition, the two companies will enter into a strategic partnership to jointly invest in opportunities focusing on European energy infrastructure assets.

MET Group has businesses in natural gas, power and oil markets, focused on multi-commodity wholesale, trading and sales, as well as energy infrastructure and industrial assets.

MET Group has a presence across 15 European countries. MET Group is active in 26 national gas markets and 22 international trading hubs, having traded more than 42 billion cubic meters of gas across Europe in 2018. As one of the largest independent energy suppliers in Central and Eastern Europe, MET Group supplies natural gas and electricity to a diverse portfolio of customers.

The transaction is subject to customary merger clearance, including the approval of the European Commission and Ukraine.

The transaction is not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation for the current financial year.