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Sembmarine-Keppel O&M merger vote passes with more than 95 per cent in favour

  Yong Hui Ting
Tan Nai Lun
Published Thu, Feb 16, 2023 · 12:17 PM
    • Sembmarine is poised to become a much bigger and more competitive entity, with a sharp renewables focus post-merger.
    • Sembmarine is poised to become a much bigger and more competitive entity, with a sharp renewables focus post-merger. PHOTO: SEMBCORP MARINE

    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 big step forward on Thursday (Feb 16) as shareholders voted overwhelmingly in favour of amalgamating the two into one.

    At a fully virtual extraordinary general meeting (EGM), over 95 per cent of shares voted were in favour of the merger.

    Out of 4,317,242,439 shares represented at the meeting, only 203,730,349 of them, representing 4.72 per cent of the shares, voted against the proposed merger.

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