Sembcorp and Keppel 'not bidding' for STX OSV majority stake
Thursday, 19 January 2012 | 16:30
Sembcorp Marine and Keppel Corp have refuted reports claiming that they are looking to acquire a stake in STX OSV as STX Europe looks to offload its majority stake.
“Sembcorp Marine wishes to state that currently it is not making a bid for the stake in STX OSV,” the Singapore-listed firm announced to the exchange on Wednesday.
It added that it evaluates investment opportunities from time to time and will make the appropriate announcements when necessary.
Keppel Corp, the world's largest rig builder, also stated on Wednesday that it is not making a bid.
Reuters reported that Sembcorp Marine is considering buying 50.75% stake in the South Korea-based offshore vessels builder. The stake is estimated to worth $603m.
STX OSV said on Wednesday that STX Europe had JP Morgan Chase Bank, Hong Kong Branch and Standard Chartered Securities Korea Ltd in connection with a possible sale of its stake in the Singapore-listed firm.
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