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Singapore: Temasek makes takeover offer for Keppel

By  |  October 23, 2019

Singapore’s Temasek Holdings made a $2.9 billion offer for majority control of Keppel Corp. , and the sovereign-wealth fund plans to merge the shipyard with rival Sembcorp Marine Ltd. in response to consolidation in the ship construction sector in South Korea and China, people familiar with the matter said.

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    The move would mark the biggest action in the maritime business for Temasek, which has a $230 billion portfolio that includes shipping, airlines, real estate, energy and bank investments, since it sold Singapore flag carrier Neptune Orient Lines to French operator CMA CGM SA for $2.4 billion in 2015.

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