Temasek Makes Proposal for Keppel and Deal Will Change the Parent Company of the Brasfels Shipyard in Angra dos Reis, Since the Buyer Will Own 51% of the Conglomerate
Singapore’s Keppel, the company that controls the Brasfels Shipyard in Angra dos Reis, has received a proposal from the state investor Temasek Holdings to sell control of the Keppel Corp conglomerate. At the beginning of the month, we received good news about the continuation of work at the shipyard.
The agreement is worth US $ 4.1 billion and could accelerate consolidation in the platform construction sector, which is struggling against the effects of low oil prices.
The offshore and marine unit of Keppel and Sembcorp Marine, the two local players, have been hit by a prolonged slowdown in the global sector over the past five years, with falling oil prices.
“There’s been talk for a long time about a potential restructuring of the businesses under Keppel Corp and Sembcorp, such as a merger of the marine and offshore shipyards,” said Low Pei Han, senior research analyst at the Bank of Singapore.
-
Civil Defense issued a storm alert with risk of flooding in Santa Catarina, and intense rain may hit the state between Tuesday and Wednesday with wind gusts and hail.
-
Climate records from trees, corals, sediments, and caves show that the current warming is the only one in the last 2,000 years to affect the entire planet at the same time and advance faster than any natural change ever recorded, something that did not occur even during the Medieval Warm Period.
-
Surrounded by the Atlantic and the Amazon estuary, Marajó Island is losing land to the sea at a rate recorded by satellite, while saltwater is already invading the wells that supply riverside communities, and the process is advancing without any national adaptation plan addressing the most vulnerable inhabited archipelago in Brazil.
-
South of Mato Grosso do Sul, southern São Paulo, Sul de Minas, and the Mantiqueira Mountains enter the most critical cold zone, with above-normal heat before the polar air mass, a sharp drop in temperatures during the early mornings, and an increasing risk for crops, vegetables, coffee, and low-lying areas.
Temasek stated that if the deal goes through, it will seek to work with Keppel’s board to carry out a strategic review of its business.
Temasek already owns 20.5% of Keppel and said it would increase its stake to 51%, subject to approvals from national and foreign regulators that may take many months.
Long-Term Value
“The partial offer reflects our view that there is inherent long-term value in Keppel’s businesses, despite the challenges posed by the current economic and business outlook,” said Tan Chong Lee, president of Temasek International, in a statement.
Keppel is involved in platform construction, property development, infrastructure, and investments.
Both Keppel and Sembcorp Marine have been among a number of companies involved in a wide-ranging corruption investigation carried out by the operation Lava Jato in Brazil.
At the end of 2017, Keppel’s platform construction unit paid US $ 422 million to resolve charges that it paid bribes to secure contracts in Brazil, including with the indebted Sete Brasil.
Keppel and Sembcorp Marine said earlier this month that they reached agreements with Sete Brasil on contracts to build drill ships and platforms and that Brasfels in Angra dos Reis will resume work on two of these drill ships.
Also Read! Ocyan, former Odebrecht, Sells Drill Ship to OOS, Known for Operating Floater!

Be the first to react!