CitySpring and Keppel Infrastructure Trust call for trading halt after merger report

CitySpring Infrastruct Trust and Keppel Infrastructure Trust called for an immediate trading halt on their shares pending an announcement on Friday following a media report that the listed business trusts were exploring a merger.

Bloomberg News reported earlier on Friday that the two trusts were negotiating terms of a potential deal, citing people with knowledge of the matter. Bloomberg said no final decision on whether to proceed had been made.

CitySpring is Singapore's sole producer of residential gas while Keppel Infrastructure Trust generates power from city waste and supplies reclaimed water to industrial users.

Temasek Holdings owns 37 per cent of CitySpring, which has a market value of $782 million, according to data compiled by Bloomberg.

Keppel Infrastructure Trust has a market value of $655 million and is 49 per cent owned by Keppel Corp., whose largest shareholder is Temasek.