Singapore-based conglomerate Keppel Corp said it has signed an agreement to sell a stake in Golar Hilli LLC to a unit of Golar LNG Partners for US$658 million.
The sale and purchase agreement was signed together with Golar LNG and Black & Veatch and is in conjunction with Golar LNG's plan to acquire stake in FLNG Hilli Episeyo via its unit.
The deal is expected to occur on or before April 30, 2018.
Upon closing, KSI, Golar and B&V will sell an aggregate 50 percent of the common units in Golar Hilli LLC to a subsidiary of the partnership.
After the sale of interests, Keppel's effective stake in Golar Hilli LLC will be 5 percent of the common units.
The sale is not expected to have any material impact on the earnings per share and net tangible asset per share of Keppel Corp for the current financial year.
Shares in the company fell 0.1 percent to S$6.36 on the Singapore Exchange. The stock has gained 10 percent so far this year.