Singapore conglomerate Keppel Company has offered its logistics arm to France’s GEODIS for $80m, whereas additionally making progress on an extended mooted merger of its shipyard division with compatriot Sembcorp Marine.
The divestment of Keppel Logistics, a non-core enterprise that has been working at a sub-scale degree, is in keeping with the Keppel Group’s Imaginative and prescient 2030 plans to simplify and focus its enterprise, the corporate defined whereas additionally offering an replace on Singapore yard merger plans.
Discussions on combining Keppel Offshore & Marine and Sembcorp Marine are ongoing however each events mentioned yesterday extra time is required to finalise a deal.
“Each events are dedicated to proceed with unique negotiations and work in direction of a definitive settlement by 30 April 2022,” Keppel acknowledged in a launch.
Keppel additionally mentioned that important progress has been made on advancing the sale of Keppel O&M’s legacy rigs and related receivables to a separate firm that will be majority owned by exterior traders.