Sembcorp Marine

2023 - 2 - 16

Post cover — Image courtesy of "The Maritime Executive"

Sembcorp Marine Megamerger with Keppel Gets Shareholder ... (The Maritime Executive)

Shareholders of Singapore's Sembcorp Marine gave the final approval for the megamerger with Keppel Offshore & Marine which will combine the operations...

After the merger, its position will fall to 35.5 percent of the combined company. Sembmarine told shareholders that the new board would consider if a new corporate identity was appropriate as part of a comprehensive strategic business and organizational review designed to integrate the companies. First proposed in June 2021, the deal is valued at approximately $3.4 billion and positions the two shipyards for the recovery in the offshore energy sector as they also look to expand operations into new sectors.

Over 95% of Sembmarine shareholders approve Keppel O&M merger (The Straits Times)

The $4.5 billion merger deal obtained 95.28% approval from Sembmarine's voting shareholders. Read more at straitstimes.com.

The fortunes of the two home-grown giants have suffered in recent years, with falling oil prices and the global transition towards renewable energy. After resuming trading in the afternoon, Sembmarine shares closed up 0.1 cent, or 0.7 per cent, at 13.6 cents. Current Sembmarine CEO Wong Weng Sun, who has helmed the company since 2009, will remain as a senior adviser for an interim period. Keppel will receive the remaining 54 per cent – out of which it will retain 5 per cent and distribute 49 per cent of the enlarged Sembmarine share base in specie to its shareholders. With the deal, the two companies will be merged to form one of the world’s largest O&M energy engineering companies, with a total order book of almost $20 billion. Sembmarine needed shareholders holding more than 50 per cent in value of its shares to vote for the acquisition.

SembMarine shareholders approve merger with Keppel O&M by 90% (The Edge Singapore)

Sembcorp Marine's (SembMarine) extraordinary general meeting (EGM) just took place at 11am this morning.

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More than 95% of Sembmarine shareholders approve Keppel O&M ... (The Business Times)

IT HAS been nearly a year since the proposal to merge offshore and marine (O&M) giants Keppel O&M and Sembcorp Marine (Sembmarine), but the motion took a ...

It's a 'Yes': Sembcorp Marine shareholders approve $3.37 billion ... (Upstream Online)

Keppel O&M shareholders has already voted in favour of the historic transaction between two of the most respected names in the offshore and marine industry. New ...

Fresh leadership will also arrive in the boardroom. Chris Ong, chief executive of Keppel O&M, will takeover as chief executive of the merged company. Keppel O&M shareholders has already voted in favour of the historic transaction between two of the most respected names in the offshore and marine industry.

Sembcorp Marine Shareholders OK Keppel Offshore & Marine ... (marketscreener.com)

This follows the approval in principle from the Singapore Exchange for the deal earlier in January, according to an after-market filing on Thursday. Sembcorp ...

Bullish Long Term Short Term

Sembcorp Marine shareholders give go-ahead to merger with ... (TradeWinds)

Minority shareholders in Sembcorp Marine gave an overwhelming yes to the proposed merger with rival Keppel Offshore & Marine (O&M) at an extraordinary ...