Singapore-based Temasek Holdings has made a bid to take a controlling stake in Keppel Corp. for S$4.1 billion ($3 billion).
If successful, the offer will give the state investment holding firm majority control of Keppel by increasing its existing 20.45 percent stake to 51 percent.
Temasek intends to keep Keppel listed on the Singapore Exchange.
After the successful close of the offer, Temasek intends to work with Keppel’s board of directors to undertake a comprehensive strategic review of its businesses with the objective of creating sustainable value for all shareholders.
Keppel Corp. is a Singaporean conglomerate headquartered in Keppel Bay Tower, HarbourFront. The company consists of several affiliated businesses that specialize in offshore & marine, property, infrastructure and asset management businesses.
