Sembcorp Marine

Keppel Corporation reported that the mergamerger of its shipyard and offshore marine engineering business was completed with Sembcorp Marine on Februa...

The deal was later revised in October 2022 into a direct acquisition of Keppel O&M by Sembcorp Marine with a lower valuation of Keppel’s assets and an agreement to lower Keppel’s retained portion of the combined company. The combined company will have an orderbook valued at more than US$13 billion with an increasing focus on offshore wind and renewable energy as well as the transition to alternative fuels in the maritime industry. The deal, which was valued at more than $3.3 billion, creates a combined company focused on the offshore and marine sectors under the management of Sembcorp Marine while Keppel plans to focus on its real estate, utility, data center, telecom, finance, and logistics business lines going forward.

Transaction establishes Singapore mega-contractor ready to bid for oil, gas and renewables work.

“The company is pleased to announce that closing has taken place on 28 February 2023. Following closing, KOM has become a wholly owned subsidiary of the company,” Sembmarine said in a statement late on Tuesday. As of 28 February, Keppel O&M became a wholly owned subsidiary of Sembmarine, with Keppel O&M’s chief executive Chris Ong taking over the reins of the newly enlarged entity.

Meanwhile, Sembcorp Marine also named Mark Gainsborough as independent chairman, Jan Holm and La Chung Han as independent directors, and Nagi Hamiyeh as a non- ...

In a bourse filing, Sembmarine said Ong will also serve as a member of corporate social responsibility and transformation committees of the company. Chris Ong Leng Yeow will serve as the CEO and executive director of the He will also serve as a member of the transformation committee.

Keppel Corporation Limited (the “Company”) refers to: (a)the announcements dated 27 April 2022 and 27 October 2022 in relation to (i) the transfer of, ...

(the “Asset Co Transfer”), (ii) the proposed combination (the “Proposed Combination”) of KOM and Sembcorp Marine Ltd (“SCM”), and (iii) the proposed distribution in specie of ordinary shares in the capital of SCM to the shareholders of the Company (“Shareholders” and such distribution, the “Proposed Distribution”); Further announcement(s) regarding the completion of the Proposed Distribution will be made by the Company in due course. Keppel Corporation Limited (the “Company”) refers to: (a)the announcements dated 27 April 2022 and 27 October 2022 in relation to (i) the transfer of, inter alia, the legacy rig assets and associated receivables of Keppel Offshore & Marine Ltd (“KOM”) to Rigco Holding Pte.

CHRIS Ong, the chief executive of Keppel Offshore & Marine (Keppel O&M), will assume the role as the chief executive of the combined behemoth offshore and ...

Singapore's Keppel Corp said on Tuesday that Sembcorp Marine (Sembmarine) has completed a S$4.50 billion ($3.34 billion) buyout of its offshore & marine ...

($1 = 1.3484 Singapore dollars) [The Thomson Reuters Trust Principles.](https://www.thomsonreuters.com/en/about-us/trust-principles.html) [(KPLM.SI)](https://www.reuters.com/companies/KPLM.SI) said on Tuesday that Sembcorp Marine (Sembmarine) [(SCMN.SI)](https://www.reuters.com/companies/SCMN.SI) has completed a S$4.50 billion ($3.34 billion) buyout of its offshore & marine unit after receiving the necessary shareholder approvals.

Sembcorp Marine and Keppel entered into an amended agreement in October last year, pursuant to which, Sembcorp Marine agreed to directly acquire a 100% stake in ...