Keppel poser: Temasek, which already owns about one-fifth of Keppel, offered to buy an additional 30.6% stake in October. The state investment firm is keeping a close tab on Keppel’s financials considering any significant impairment could trigger so-called material adverse change clauses.— AFP
SINGAPORE: Temasek Holdings Pte is prepared to drop a S$4bil (US$2.9bil) bid for control of Keppel Corp should the Singaporean conglomerate’s next earnings report trigger a clause that allows it to walk away, according to people familiar with the matter.
The state investment firm is keeping a close tab on Keppel’s financials considering any significant impairment could trigger so-called material adverse change clauses, said the people, who asked not to be identified as the information is private.
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