Keppel, Sembcorp deny STX OSV bids

Discussion: STX Europe was in talks to consider the future of its majority holding in STX OSV.

Neither Keppel Corporation nor Sembcorp Marine was making a bid for a stake in Singapore shipbuilder STX OSV, the companies have told the nation’s stock exchange.

STX OSV told the Singapore Stock Exchange that its majority shareholder, STX Europe, was exploring the potential sale of its shares – but said there was no certainty that the sale would take place.

This led to speculation that Keppel or Sembcorp had made a bid, but both said it was not something they were “currently” doing.

But neither company ruled it out either, both saying they would advise the market in the case of any material developments.

STX Europe has hired JPMorgan Chase Bank and Standard Chartered Securities to assist in its investigation.

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