Temasek to Buy Keppel Shares

Temasek Holdings is set to take control of conglomerate Keppel Corporation with an offer by its wholly-owned subsidiary Kyanite Investment to acquire an additional 30.55% of Keppel shares at SGD7.35 apiece in cash.

If successful, the SGD4.08 billion deal will lift Temasek and Kyanite's total holding in Keppel Goup to up to 51%, from its current 20.45% stake in the conglomerate.

Temasek intends to keep Keppel listed on the Singapore Exchange, the state investment firm said in a statement on Monday(Oct 21).

- Staff Reporter/APMR News