Keppel's O&M unit to merge with Sembcorp Marine in landmark deal

Keppel's O&M unit to merge with Sembcorp Marine in landmark deal

FILE PHOTO: Members of the media tour are seen on the helipad of Heerema Marine Contractors' Sleipnir, the world’s largest semi-submersible crane vessel, at the Sembcorp Marine shipyard in Singapore, May 23, 2019. REUTERS/Edgar Su

Singapore’s Sembcorp Marine (Sembmarine) has agreed to combine with local conglomerate Keppel Corp’s larger offshore and marine (O&M) unit, a year after the Temasek-backed firms started deal talks to cope with an industry downturn.