Sembmarine, Keppel O&M in giant merger to create offshore powerhouse
SINGAPORE’s decades-long anticipated merger of home-grown offshore and marine (O&M) giants Keppel O&M and Sembcorp Marine : S51 0%(Sembmarine) is finally in the works and will create a global offshore powerhouse valued at S$8.7 billion to tap the green energy boom.
“As a home-grown marine icon with 60 years of track record, we are taking a bold step to further augment our depth and breadth of engineering and operational capabilities to create a pureplay in the offshore & marine and energy sector with enhanced focus,” said Sembmarine’s chairman Hassan Marican.
“This is a historic moment for the O&M sector in Singapore,” said Keppel Corp : BN4 0% chief executive and Keppel O&M chairman Loh Chin Hua.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama