Offshore staff
SINGAPORE – Keppel Corp and Sembcorp Marine are progressing their proposed merger, first announced last June. Both parties are working towards securing a definitive agreement by the end of this month.
The companies say that “significant progress has been made on advancing the proposed combination, including mutual due diligence, the transaction structure, exchange ratio and other related matters.”
Keppel added that it is advancing the sale of Keppel Offshore & Marine’s legacy drilling rigs and associated receivables to a separate company (“Asset Co”) that would be majority owned by external investors.
4/2/2022
