Singapore's Keppel Corp has announced plans to merge its shipyard assets.
Keppel has discussed the move for several years but the deal was made possible by Hitachi Zosen's decision to cash out of its equity share in the Keppel Hitachi Zosen yard (KHZ), ending the Japanese company's involvement in Singapore's marine engineering industry.
Keppel plans to buy out minority stakes in its listed subsidiary with a cash payment of SGD 0.60
