'More time and deliberation' needed in potential combination of Keppel O&M, Sembmarine

Singapore

MORE time and deliberation is needed, although "significant progress" was made, to advance the proposed combination between Keppel Offshore & Marine (O&M) and Sembcorp Marine (Sembmarine), said Keppel Corporation and Sembmarine on Thursday (Mar 31).

Giving the update in a bourse filing some 9 months after first announcing talks on potentially combining the entities, the parties said they still need to complete due diligence, reach mutual agreement on the transaction terms and finalise definitive legal documentation.