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20 May 2022 The on-line newspaper devoted to the world of transports 11:54 GMT+2

April 27, 2022

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Keppel Offshore & Marine merger agreement signed and Sembcorp Marine

Temasek will hold 33.5% of the new company

The negotiations in place since half have been successful last year for the merger of singaporean Keppel Offshore & Marine and Sembcorp Marine ( of 24 June 2021). Today the two companies announced that they have signed a final agreement to complete the project which aims to create a leading operator in the industry maritime and offshore in the field of renewable energy and new energy sources.

The agreement, under which Keppel O&M will pay 500 million Singapore dollars (363 million US dollars) in cash to the parent company Keppel Corporation, provides that the Keppel shareholders will go 56% of the capital of the new company and shareholders of Sembcorp Marine the remaining 44%. Temasek, the investment firm of the Singapore government which is a shareholder of both Keppel Corporation and Sembcord Marine, will own 33.5% of the new company.

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