Sembcorp Marine

After almost one year of negotiations, Keppel Corporation and Sembcorp Marine have reached an agreement for the combination of Keppel Offshore & Marine and ...

I am confident the Combined Entity, with its larger operational scale, broader geographical footprint and enhanced capabilities, will create a leading Singapore player to capitalise on the opportunities in the offshore and marine, as well as the renewable and clean energy sectors.” Loh Chin Hua, CEO of Keppel and chairman of Keppel O&M, said, “The signing of a win-win agreement on the Proposed Combination of Keppel O&M and Sembcorp Marine marks a strategic milestone for the offshore & marine sector. Tan Sri Mohd Hassan Marican, chairman of Sembcorp Marine, said, “The Proposed Combination marks a major milestone in Sembcorp Marine’s strategic business transformation journey since 2015 to stay resilient amid dramatic changes in our industry.

KEPPEL Corporation has entered into definitive agreements with Sembcorp Marine (Sembmarine) for the proposed combination of Keppel Offshore & Marine (Keppel ...

Singapore's Sembcorp Marine (Sembmarine) has agreed to combine with local conglomerate Keppel Corp's larger offshore and marine (O&M) unit, a year after the ...

Keppel will distribute in-specie 46% of the merged entity's shares to its shareholders and retain a 10% stake. A surge in oil prices has partly improved the industry outlook. Register now for FREE unlimited access to Reuters.com

Keppel signed a definitive agreement for a proposed merger of its offshore and marine (O&M) business with Sembcorp Marine, the companies said on Wednesday ...

But a recent surge in oil prices has promised an improving outlook for the industry and new order wins. Keppel said it will distribute in-specie 46 per cent of the shares in the merged entity to its shareholders and retain a 10 per cent stake. Upon completion of the merger, Keppel and its shareholders will own 56 per cent of the combined entity, while Sembcorp Marine's shareholders will own the rest, the companies said.

SMM will undergo an internal restructuring exercise whereby its shareholders will exchange their shares for shares in the NewCo on a one-for-one basis. SMM will ...

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By P.R. Venkat Sembcorp Marine Ltd. and Keppel Corp.'s offshore-and-marine business have agreed to merge, creating one of the world's largest rig-building.

Like many of their peers, Keppel and Sembcorp Marine were severely affected by the Covid-19 pandemic, which hit drilling and exploration activities worldwide. State-investment company Temasek is the controlling shareholder of both Keppel and Sembcorp Marine. The transaction is expected to be completed by the end of the year. After completing the deal, Keppel will distribute to its shareholders 46% of the equity shares in the combined entity. It will also get S$500 million cash. Under the planned merger, Keppel Offshore & Marine and Sembcorp Marine will be combined, allowing a value realization of 9.42 billion Singapore dollars (US$6.83 billion), Keppel said Wednesday.

Sovereign wealth fund Temasek Holdings will become largest shareholder in combined entity with 33.5% stake.

Two offshore oil and gas giants have agreed on a combination. Here are five important things that investors should know. The post Keppel O&M and Sembcorp ...

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Singaporean industrial conglomerates Keppel Corporation and Sembcorp have signed an agreement to mer...

Keppel O&M will sell all of its legacy rigs and unpaid accounts to a separate holding vehicle, which will be 90-percent owned by outside investors. "Together with the resolution of Keppel O&M’s legacy rigs, this is a major step forward in Keppel’s Vision 2030 journey, as we simplify our business and sharpen our focus on providing solutions for sustainable urbanization." In January 2021, after years of contraction in the offshore oil and gas sector, Keppel O&M announced that it would exit its core offshore rig construction and repair business and refocus its efforts on renewables.

KEPPEL Corporation and Sembcorp Marine (Sembmarine) halted the trading of their shares within minutes of each other on Wednesday (Apr 27) morning, pending the release of announcements. The trading halts come amid talks of a potential merger between ...

A unit of conglomerate Keppel Corp. and Sembcorp Marine—both controlled by Singapore state-linked investment firm Temasek—have agreed to merge to create the ...

“We are pleased that Keppel and Sembcorp Marine have come to an agreement on the terms of a combination that we think will be transformational for the companies,” Nagi Hamiyeh, head of portfolio development group at Temasek, said. Global investments in offshore renewable and cleaner energy solutions is expected to exceed S$500 billion between 2021 and 2030, the companies said, citing market research by a world leading consultant. “These include areas such as offshore wind, hydrogen and ammonia, in which both Keppel O&M and Sembcorp Marine have built their respective capabilities and track records in the past few years.”

Keppel Corporation has entered into definitive agreements with Sembcorp Marine (SembMarine) for the proposed combination of Keppel Offshore & Marine (Keppel ...

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Keppel Corporation and Sembcorp Marine have signed definitive agreements for the proposed combination of Keppel O&M and Sembcorp Marine.

The combination will be subject to the approvals of the shareholders of Keppel and Sembcorp Marine at separate extraordinary general meetings (EGMs), which are expected in the fourth quarter of 2022. Following this distribution-in-specie, Temasek will hold 33.5% and be the largest shareholder of the combined entity. Concurrently, Keppel O&M will sell its legacy rigs and associated receivables to an Asset Co that will be 10%-owned by Keppel and 90%-owned by other investors, and transfer other out-of-scope assets to Keppel.

Singapore's Sembcorp Marine (Sembmarine) has agreed to a multi-billion dollar merger with Keppel Corp's larger offshore and marine unit…

(Bloomberg) -- Sembcorp Marine Ltd. has agreed to merge with Keppel Corp.'s subsidiary in a deal that will create the world's biggest builder of oil rigs ...

Keppel will own 10% of the new entity, while Baluran will hold 74.9% and Kyanite 15.1%. Sembcorp Marine will hold a 44% interest in the new company. The company plans to transform itself as a developer, owner and operator of energy related assets rather than being a builder, he said. Under the agreement, Keppel will receive S$500 million ($363 million) from Keppel O&M and a 56% share of the new company on a post-issue basis. “These include areas such as offshore wind, hydrogen and ammonia, in which both Keppel O&M and Sembcorp Marine have built their respective capabilities and track records in the past few years.” “It brings together two leading O&M companies in Singapore to create a stronger player that can realize synergies and compete more effectively amidst the energy transition.”

Sembcorp Marine Ltd. has agreed to merge with Keppel Corp.'s subsidiary in a deal that will create the world's biggest builder of oil rigs and push the ...

Keppel has agreed to merge its offshore rig building business Keppel Offshore & Marine (Keppel O&M) with Sembcorp Marine.

Keppel O&M will also transfer other out-of-scope assets to Keppel. Keppel will also receive $362.4m (S$500m) from Keppel O&M prior to the closing of the deal. Singapore-based Keppel has agreed to merge its offshore rig building business Keppel Offshore & Marine (Keppel O&M) with Sembcorp Marine.

By Kyunghee Park (Bloomberg) — Sembcorp Marine Ltd. has agreed to merge with Keppel Corp.'s subsidiary in a deal that will create the world's biggest ...

Keppel will own 10% of the new entity, while Baluran will hold 74.9% and Kyanite 15.1%. Sembcorp Marine will hold a 44% interest in the new company. The company plans to transform itself as a developer, owner and operator of energy related assets rather than being a builder, he said. Under the agreement, Keppel will receive S$500 million ($363 million) from Keppel O&M and a 56% share of the new company on a post-issue basis. “These include areas such as offshore wind, hydrogen and ammonia, in which both Keppel O&M and Sembcorp Marine have built their respective capabilities and track records in the past few years.” “It brings together two leading O&M companies in Singapore to create a stronger player that can realize synergies and compete more effectively amidst the energy transition.”

Merger agreement combines two major Singapore offshore & marine players to create new company aimed at emerging market requirements.

We look forward to the support of the shareholders of Keppel and Sembcorp Marine to make this possible.” I am confident the combined entity, with its larger operational scale, broader geographical footprint and enhanced capabilities, will create a leading Singapore player to capitalise on the opportunities in the offshore and marine, as well as the renewable and clean energy sectors.” The legacy rigs and receivables that Keppel O&M has gotten stuck with won’t be part of the deal.

Sembcorp Marine has agreed to merge with Keppel's subsidiary in a deal that will create the world's biggest builder of oil rigs and push the business.

Keppel said last year that it will exit the rig-building business and focus more on providing solutions for energy projects. Keppel will own 10% of the new entity, while Baluran will hold 74.9% and Kyanite 15.1%. Sembcorp Marine will hold a 44% interest in the new company. The company plans to transform itself as a developer, owner and operator of energy related assets rather than being a builder, he said. “These include areas such as offshore wind, hydrogen and ammonia, in which both Keppel O&M and Sembcorp Marine have built their respective capabilities and track records in the past few years.” “It brings together two leading O&M companies in Singapore to create a stronger player that can realise synergies and compete more effectively amidst the energy transition.”

Sembcorp Marine Ltd. has agreed to merge with Keppel Corp.'s subsidiary in a deal that will create the world's biggest builder of oil rigs and push the ...

Keppel said last year that it will exit the rig-building business and focus more on providing solutions for energy projects. Keppel will own 10% of the new entity, while Baluran will hold 74.9% and Kyanite 15.1%. Sembcorp Marine will hold a 44% interest in the new company. The company plans to transform itself as a developer, owner and operator of energy related assets rather than being a builder, he said. Under the agreement, Keppel will receive S$500 million ($363 million) from Keppel O&M and a 56% share of the new company on a post-issue basis. “These include areas such as offshore wind, hydrogen and ammonia, in which both Keppel O&M and Sembcorp Marine have built their respective capabilities and track records in the past few years.”