Asset Acquisitions and Disposals::SIA ENGINEERING COMPANY AND ROLLS-ROYCE AGREE ON ENHANCED MODEL FOR THEIR SINGAPORE JOINT VENTURES

Issuer & Securities

Issuer/ Manager
SIA ENGINEERING COMPANY LIMITED
Securities
SIA ENGINEERING CO LTD - SG1I53882771 - S59
Stapled Security
No

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
23-Nov-2015 20:40:51
Status
New
Announcement Sub Title
SIA ENGINEERING COMPANY AND ROLLS-ROYCE AGREE ON ENHANCED MODEL FOR THEIR SINGAPORE JOINT VENTURES
Announcement Reference
SG151123OTHRZACQ
Submitted By (Co./ Ind. Name)
Devika Rani Davar
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Mainboard-listed SIA Engineering Company Limited ("SIAEC" or the "Company") today announced that it has signed an agreement with Rolls-Royce Overseas Holdings Limited ("RROH") and Hong Kong Aircraft Engineering Company Limited ("HAECO") to divest its 10% stake in Hong Kong Aero Engine Services Ltd ("HAESL") to RROH and HAECO in equal proportion. At the same time, HAESL has signed an agreement with Rolls-Royce Singapore Pte Ltd ("RRS") to divest its 20% stake in Singapore Aero Engine Services Private Limited ("SAESL") to RRS.

Attachments