Singapore conglomerate Keppel Corp and smaller rival Sembcorp Marine have agreed to explore a potential combination of Sembcorp with Keppel‘s offshore and marine (O&M) business.
“The objective of these discussions is to create a stronger combined entity and sustainable value over the long term for Keppel O&M and Sembcorp Marine and their respective stakeholders, in response to dramatic changes in the global offshore and marine engineering and energy sectors,” the companies said in a joint statement on Thursday.
