Olongapo SubicBay BatangGapo Newscenter

Monday, August 02, 2010

Keppel to pay USD63.6M to raise stake at Subic Shipyard

as Keppel pays $86.5m to raise stakes in Philippines yards

By ANGELA TAN - businesstimes.com.sg

Keppel Corporation Limited, through a subsidiary Keppel Philippines Marine Inc (KPMI), is raising its shareholdings in two associated companies, Subic Shipyard and Engineering Inc (SSEI) and Consort Land, Inc (CLI) to be nearer to its customers in the Philippines.
Keppel will pay $86.5 million (US$63.6 million) to raise its effective stakes from 44 per cent to 83.9 per cent in SSEI and from 33.7 per cent to 38.7 per cent in CLI.

The sale and purchase of shares in both companies is expected to be completed by the end of September 2010, following which, SSEI will become a Keppel subsidiary.

SSEI is a leading shipyard located in Subic Bay, the Philippines, which provides repair, conversion and building services to shipowners and offshore operators in the region. It also carries out routine and specialised machinery reconditioning works, as well as steel fabrication for marine and offshore structures. CLI owns 72 ha of land including the 20 ha on which SSEI is situated.

Labels: , , ,


Post a Comment

<< Home


This is a joint private blog of volunteers from Subic Bay. It is being maintained primarily to collate articles that may be of importance to decision making related to the future of Subic Bay and as a source of reference material to construct the history of Subic Bay.

The articles herein posted remains the sole property of original authors and publications which has full credits to the articles.

Disclaimer: Readers should conduct their own research and due diligence before using any article herein posted for whatever intended purpose it may be. This private web log will not be liable for any loss or damage caused by a reader's reliance on information obtained from volunteers of this private blog.

www.subicbay.ph, http://olongapo-subic.com, http://sangunian.com, http://olongapo-ph.com, http://oictv.com, http://brgy-ph.com, http://subicbay-news.com, http://batanggapo.com 16 January 2012