An unknown buyer agreed to acquire 19.2% stake in Ironmont Hydro Pte. Ltd. from Nippon Koei Co., Ltd. (TSE:1954) for $10.7 million on November 14, 2022. For the year ended December 2021, Ironmont had total assets of $21.3 million, Net income of $13.31 million, net worth of $21.2 million and sales of $2.1 million.

Transaction is expected to close in December, 2022.