Keppel Infrastructure Trust launches strategic review of Ixom

Water in a fountainWater in a fountain

Keppel Infrastructure Trust has begun a strategic review of its wholly owned Ixom Holdings to potentially unlock value from the business, the trust said in a filing to SGX Thursday. 

The strategic review is part of the trust’s regular asset review process following the strategic review at the end of 2021, KIT said. 

The trust’s manager will appoint a financial adviser in connection with the strategic review and may conduct, via the adviser, preliminary discussions with various parties to evaluate options available, the filing said. 

KIT noted there was no assurance any transaction would materialise from the strategic review, or that any definitive or binding agreement will be reached. 

Ixom, acquired by KIT in 2019, supplies and distributes critical water-treatment chemicals and industrial and specialty chemicals, the filing said. The company is the only manufacturer of liquefied chlorine and a leading maker of caustic soda in Australia, the filing said.

Chemicals produced by Ixom are used in water treatment, dairy, agriculture, mining and construction sectors; the company’s supplies were classified as essential services during the pandemic, the filing said.

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