Keppel Corp is selling its majority stakes in each of Keppel Smit Towage and Maju Maritime as part of its divestment strategy.
The Singapore group is selling the 51% stakes to Rimorchiatori Mediterranei for SGD 133m ($98.4m), it said in a regulatory statement issued on Monday.
The company added that completion of the divestments is conditional upon the receipt of approval from regulatory authorities in Singapore.
