Keppel and Sembcorp Marine signed a definitive agreement for merger Keppel and Sembcorp Marine announced this morning that they have entered into a definitive agreement for the proposed combination of Keppel O&M and Sembcorp Marine to create a new entity that will be focused on offshore renewables, new energy and cleaner O&M solutions. This merger is subject to various regulatory approvals and is expected to be put to respective shareholders for approval in 4Q22. Source: Keppel How will the new entity look like?   From Keppel’s perspective, the diagram below, taken from Keppel’s presentation, will be how the post-transaction corporate structure be like Source; keppel To summarise, Keppel Corp’s shareholders will now own 56% of the combined Oil & Gas focused entity while the remaining 44% will belong to Sembcorp Marine’s shareholders (where there will be a 1-1 share swap). 46% of the 56% stake (in the combined entity) will be distributed to Keppel’s shareholders while 10% will be kept in a segregated account....