Green Asia
SingTel to sell stake in Trustwave for $205 million
![](https://nsn.asia/wp-content/uploads/https://onecms-res.cloudinary.com/image/upload/s--F0RLJ5YP--/fl_relative,g_south_east,l_one-cms:core:watermark:reuters,w_0.1/f_auto,q_auto/c_fill,g_auto,h_676,w_1200/v1/one-cms/core/2023-10-01t225325z_1_lynxnpej900o7_rtroptp_3_singtel-stake-kkr-co.jpg?itok=WhQN49_5)
[ad_1]
Singapore Telecommunications on Monday said it entered into an agreement with MC2 Titanium, LLC to sell its stake in cyber security business Trustwave for $205 million.
Southeast Asia’s largest telecom firm began a strategic review of its 98 per cent interest in Trustwave in 2021 after buying it for $770 million in 2015.
The divestment comes after SingTel incurred an impairment charge of S$336 million ($245.92 million) on Trustwave in the second half of 2021.
The divestment is expected to be completed by the fourth quarter and will not have a material impact on the group for fiscal 2024, the company said in a statement.
($1 = 1.3663 Singapore dollars)
[ad_2]
Source link