Keppel completes $3.34 bln sale of unit to Sembmarine

A view of a Keppel Corporation shipyard in Singapore January 19, 2016. Singapore's Keppel Corporation Ltd said on Thursday its fourth-quarter net profit fell 44 percent and its 2015 profit dropped to a five-year low as plunging oil prices hit demand for offshore rigs. Picture taken January 19, 2016. REUTERS/Edgar Su

Singapore’s Keppel Corp (KPLM.SI) said on Tuesday that Sembcorp Marine (Sembmarine) (SCMN.SI) has completed a S$4.50 billion ($3.34 billion) buyout of its offshore & marine unit after receiving the necessary shareholder approvals. ($1 = 1.3484 Singapore dollars).

Source: Reuters


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