Keppel Infrastructure, CitySpring Gain After Planned Merger

        0213 GMT [Dow Jones] Shares of Keppel Infrastructure Trust (LH4.SG), CitySpring Infrastructure Trust (A7RU.SG) gain after the companies announced plans Tuesday to combine their businesses to create a single entity with assets worth over S$4 billion (US$3.1 billion). As part of the plan, CitySpring, which is 37.4%-owned by state investment firm Temasek Holdings Pte. Ltd., will issue units to shareholders of Keppel Infrastructure Trust and create a combined single entity with a market capitalization of more than S$1.9 billion (US$1.5 billion). According to Dealogic, deal activity in Singapore is at its highest level since 2008. Outbound, inbound and domestic deals have totaled US$58 billion so far this year. Keppel Infrastructure Trust is up 5.3% at S$1.10, while CitySpring has gained 7.8% at S$0.56. (venkat.pr@wsj.com)
        (END) Dow Jones Newswires

        November 18, 2014 21:13 ET (02:13 GMT)

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