Keppel's loss breaches Temasek's conditions for takeover, says CEO

Singaporean conglomerate Keppel Corp’s on Thursday reported a second-quarter loss that breaches a threshold in state investor Temasek Holdings’ $3 billion conditional offer to buy control of the company.

Temasek offered to raise its stake and buy control of Keppel in October last year, leading to expectations of consolidation in the domestic rig building sector.

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