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Announced

Temasek terminates the $3bn deal with Keppel.

Financials

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Transaction Value£2,311m
Consideration TypeCash
Capital Owned20%
Capital Bid For31%
EV/Sales-
EV/EBITDA-
Share Price Premium26%
One Off Charge-

Tags

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Marine Transportation

Public

Acquisition

Single Bidder

marine services

infrastructure

Singapore

Majority

Friendly

Failed

Private Equity

Synopsis

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Temasek, a Singaporean holding company, terminated the acquisition of a 30% stake in Keppel, a Singaporean marine conglomerate, for $3bn. Temasek currently directly owns 20% of Keppel. Such measures were brought after Keppel reported significant losses in Q2 2020, invoking a material adverse change.

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