Temasek to decide by end-Aug on pre-condition for Keppel offer

Singapore

THE Temasek Holdings unit that last October made a voluntary pre-conditional partial offer for Keppel Corporation will decide by end-August whether to invoke the material adverse change (MAC) pre-condition based on Keppel's second quarter results.

This was conveyed in an announcement over the weekend by Morgan Stanley Asia (Singapore) on behalf of the offeror, Kyanite Investment Holdings, an indirect wholly-owned subsidiary of Temasek.