Keppel's associate Floatel halts proposed merger

The companies viewed that any near-term merger was unlikely.

Keppel corporation has announced that its offshore & marine unit’s associate Floatel International and Oslo-listed company Prosafe have mutually decided to discontinue the transaction in relation to their proposed merger, according to a bourse filing.

The cessation of the proposed merger was due to the companies’ view that any near-term completion of a value enhancing merger was unlikely.

The proposed merger has been entered into agreement in June 2019, where Prosafe was set to acquire all of the ordinary shares in the capital of Floatel based on a 55 : 45 exchange ratio between the companies.

The application for the merger has also been previously rejected in October 2019 by competition authorities in Norway.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia