Temasek, which currently owns 20,45 percent in Keppel, intends to offer S$7.35 per share for 30,55% Keppel shares, an offer estimated to be valued at ~S$4,1 billion. The announcement of the intention to make an offer was made on Monday by Morgan Stanley, on behalf of Temasek’s subsidiary Kyanite Investment.
According to Temasek, the price to be offered implies a premium of approximately 26% over S$5.84, being the last traded price per share, and a premium of approximately 21% over S$6.07, being the volume-weighted average price per share (the VWAP) for the three-month period prior to and including Friday, October 18, 2019.
Brazil Energy Insight 
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