Singapore: Merger on the cards between largest rig builders?

A merger between two of the Singapore’s largest offshore rig builders, Keppel Offshore & Marine and Sembcorp Marine, might be on the cards.

This is according to a report by DBS Bank – The Development Bank of Singapore, which believes it is time for Singaporean shipyards to reform, restructure, and reposition themselves to create global champions.

DBS says that the speculation on the M&A between the two rig construction giants has emerged, or re-emerged, due to the prevailing difficult situation in the offshore and marine sector, and the recent changes in the leadership of the two conglomerates.

According to the report, the two companies were in similar talks back in 2001, but were unable to reach an agreement.

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