Singaporean marine merger deadline extended

Singapore

SINGAPORE, April 1, 2022 – Keppel Offshore and Sembcorp Marine have extended the deadline for their planned merger, the Singaporean marine and offshore contractors announced on Thursday.

The agreement planned for the end of March 2022 is now expected to be completed by the end of April 2022.

Keppel Offshore has also made significant progress in the sale of its legacy rigs and associated receivables to a separate company, Asset Co.

While mutual due diligence and exchange ratio have been decided, the deal is still subject to regulatory and shareholder approvals.

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