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Keppel Corporation Limited (Keppel) has announced that it has entered into definitive agreements with Sembcorp Marine for the proposed combination of Keppel Offshore & Marine and Sembcorp Marine (the Combined Entity), setting in motion the creation of a global player providing offshore renewables, new energy and cleaner solutions in the offshore & marine sector.
 
Under the terms of the combination framework agreement between (amongst others) Keppel Corporation and Sembcorp Marine, the Group will receive equity shares representing a 56% equity interest in the Combined Entity (which will be listed as a separate listed entity) as well as cash of S$500 million.
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