Temasek makes $3 billion bid to take control of Singapore's struggling Keppel Corp [Reuters]
KEPPEL CORP LTD S/ADR (KPELY)
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Source: Reuters
Temasek makes $3 billion bid to take control of Singapore's struggling Keppel Corp - Reuters 3 Min Read SINGAPORE (Reuters) - Singapore state investor Temasek Holdings is offering to buy control of conglomerate Keppel Corp ( KPLM.SI ) in a S$4.1 billion ($3 billion) deal that could hasten a consolidation in the rig building sector which is battling the effects of low oil prices. The announcement, which confirmed what two sources with knowledge of the matter told Reuters earlier on Monday, boosted shares in rig builder Sembcorp Marine ( SCMN.SI ) by 12% on expectations of a likely shake-up in the industry. Shares in Sembcorp’s parent Sembcorp Industries ( SCIL.SI ) rose 10 percent. Keppel’s offshore and marine unit, and Sembcorp Marine, the two local players, have been hit by a prolonged downturn in the global sector in the last five years as oil prices tumbled. “There has long been talk of a potential restructuring of businesses under the Keppel Corp and Sembcorp Industries stab
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News
- Did Keppel Infrastructure Trust (SGX:A7RU) Use Debt To Deliver Its ROE Of 2.8%? [Yahoo! Finance]Yahoo! Finance
- A Note On Keppel Ltd.'s (SGX:BN4) ROE and Debt To Equity [Yahoo! Finance]Yahoo! Finance
- I Squared Capital to acquire Philippines Coastal Terminal [Yahoo! Finance]Yahoo! Finance
- Keppel Infrastructure Trust's (SGX:A7RU) top owners are individual investors with 60% stake, while 18% is held by public companies [Yahoo! Finance]Yahoo! Finance
- Keppel Ltd. (OTCMKTS: KPELY) was upgraded by analysts at The Goldman Sachs Group, Inc. to a "strong-buy" rating.MarketBeat