Keppel plans to transfer its data center joint venture with Cuscaden Peak Investments to Keppel DC REIT for approximately S$1.38 billion (US$1.01 billion).

The joint venture manages the Keppel Data Centre Campus in Singapore, which houses KDC SGP 7 and KDC SGP 8.

Keppel expects to receive around S$280 million (US$204.4 million) from its 51% stake in the joint venture, pending a call option exercise.

Update: (November 20, 9:58 a.m. SGT): This article was updated to clarify the headline that it was Keppel-led joint venture that sold the data centers.