Keppel DC REIT (SGX:AJBU) entered into a conditional share purchase agreement to acquire 90% stake in Keppel DC Singapore 3 Pte. Ltd. from Keppel Data Centres Holding Pte Ltd for approximately SGD 140 million on October 17, 2016. Under the terms of the transaction, Keppel DC REIT will repay the shareholder loan of SGD 100 million owed to Keppel Data Centres Holding by Keppel DC Singapore 3 Pte. Ltd. On completion of the transaction, Keppel DC Singapore 3 will be converted in a limited liability partnership. Keppel DC REIT and Keppel Data Centres Holding will inject equity into the limited liability partnership in a proportion of 90.0% and 10.0% respectively to repay the shareholder loan of SGD 100 million and bank loan of SGD 80 million. The transaction will be financed from offering of 242 million new units to obtain proceeds of SGD 275.3 million. The deal is subject to the approval of the majority of unit holders of Keppel DC REIT, completion of the drawdown of the refinancing loan to repay the SGD 80 million bank loan, approval of Housing and Development Board and third party approvals. The Board of Keppel DC REIT recommended its unit holders to vote in favor of the transaction. The shareholder meeting of Keppel DC REIT will be held on November 7, 2016. An audit and risk committee of Keppel DC REIT Management will recommend the shareholders on the transaction. The deal is expected to close on December 1, 2016. The deal is expected to be accretive to the distribution per unit of Keppel DC REIT. Allen & Gledhill LLP acted as legal advisor, Cushman & Wakefield VHS Pte. Ltd. and Savills Valuation and Professional Services (S) Pte Ltd acted as independent valuers, Boardroom Corporate & Advisory Services Pte. Ltd. acted as transfer agent and registrar and PrimePartners Corporate Finance Pte. Ltd. acted as financial advisor for Keppel DC REIT. WongPartnership LLP acted as legal advisor for Perpetual (Asia) Limited. Keppel DC REIT (SGX:AJBU) completed the acquisition of 90% stake in Keppel DC Singapore 3 Pte. Ltd. from Keppel Data Centres Holding Pte Ltd on January 20, 2017.