[SMM Flash News] Sembcorp to Acquire 20% Stake in Aster Power

Published: Jul 29, 2026 22:51

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Sembcorp Utilities, a wholly owned subsidiary of Sembcorp Industries, has agreed to acquire a 20% equity stake in Aster Power to support the expansion of power, steam and renewable energy capabilities for Aster Chemicals and Energy's integrated refining and chemicals operations in Singapore. As part of the transaction, Sembcorp will also become Aster Power's sole gas supplier, strengthening long-term energy cooperation. The transaction remains subject to regulatory approvals and other customary closing conditions.

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