BRIEF-Keppel Corp Signs Definitive Agreement Related To Proposed Merger Of Keppel O&M & Sembcorp Marine
April 27 (Reuters) - Keppel Corporation Ltd:
* UPDATES PROPOSED COMBINATION OF KEPPEL OFFSHORE & MARINE LTD AND SEMBCORP MARINE
* SIGNS DEFINITIVE AGREEMENTS IN CONNECTION WITH PROPOSED COMBINATION OF KEPPEL O&M AND SEMBCORP MARINE
* STEPS TAKEN TO EFFECT PROPOSED COMBINATION WILL ALLOW COMPANY TO REALISE APPROXIMATELY S$9,424.2 MILLION IN VALUE OVER TIME
* PROPOSED COMBINATION OF KEPPEL OFFSHORE & MARINE AND SEMBCORP MARINE WILL BE HELD AS WHOLLY-OWNED SUBSIDIARIES OF BAYBERRY
* INTENDS TO UNDERTAKE, CONTEMPORANEOUSLY WITH COMPLETION OF KOM COMBINATION, A DISTRIBUTION IN SPECIE OF KOM CONSIDERATION SHARES
* STEPS TAKEN TO EFFECT PROPOSED COMBINATION WILL ALLOW COMPANY TO REALISE APPROXIMATELY S$9,424.2 MILLION IN VALUE OVER TIME
* PROPOSED COMBINATION WILL INVOLVE INTERNAL RESTRUCTURING OF KOM
* PROPOSED COMBINATION WILL BE EFFECTED VIA TRANSFER OF KOM'S LEGACY RIG ASSETS
* PROPOSED COMBINATION COMPRISES S$4,050.3 MILLION AS ASSETCO CONSIDERATION
* PROPOSED COMBINATION COMPRISES S$4,873.9 MILLION AS PRO FORMA ESTIMATE OF VALUE OF KOM CONSIDERATION SHARES
* 46% OF EQUITY SHARES IN COMBINED ENTITY WILL BE DISTRIBUTED TO KEPPEL SHAREHOLDERS
* PROPOSED TRANSACTIONS, IF SUCCESSFUL, EXPECTED TO BE EARNINGS ACCRETIVE TO CO FOR FY ENDED 31 DEC 2021 ON A PRO FORMA BASIS Source text for Eikon: Further company coverage: