Keppel agrees to divest stakes in six oil rigs to Keppel Offshore Fund in deal valued at about USD 957 million

Reuters2026/07/27 12:57

By:Reuters

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Keppel agreed to divest 100% of six special purpose vehicles holding six operational oil rigs to a Keppel-managed offshore rig fund.
Transaction values the assets at about USD 957 million; 5% of the purchase price may be deferred depending on rig leasing status.
Funding split evenly between Keppel and Apollo via the fund; Apollo to contribute about USD 478 million in cash, paid to RigCo.
Net proceeds to RigCo equal to the Apollo cash contribution; earmarked for general corporate purposes.
Fund may also buy up to four rigs under construction, subject to conditions including agreed price ranges and Keppel’s opt-out right.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Keppel Ltd. published the original content used to generate this news brief via Singapore Exchange Limited (SGX) (Ref. ID: ZZT3J0PZUJ3Z4ZBC) on July 27, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Keppel agrees to divest stakes in six oil rigs to Keppel Offshore Fund in deal valued at about USD 957 million

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