Under the simplified revised structure where Sembcorp Marine directly acquires 100% of KOM from Keppel, there will no longer be a combined entity; and the proposed one-for-one share exchange between the combined entity and Sembcorp Marine, and the transfer of Sembcorp Marine’s listing status to the combined entity (collectively, the earlier Sembcorp Marine Scheme) will no longer apply.
In its latest 3QFY2022 ended September business update, Sembcorp Marine announce that it has signed a revised structure and terms of its proposed combination with Keppel Offshore and Marine (KOM).
The group previously announced on Apr 27 that it had entered into definitive agreements for the proposed combination. On Oct 27, the group entered into an amended and restated combination framework agreement with Keppel Corporation to effect the proposed combination via a direct acquisition of KOM by Sembcorp Marine with improved terms.
