Temasek scraps deal to acquire 30% of Keppel

10 August 2020 - 12:00 am UTC

Singapore investment company Temasek Holdings has scrapped a proposal to increase its stake in Keppel Corporation after the conglomerate reported a loss for the first half of the year.

Temasek will invoke a material adverse change pre-condition, included in the offer, to cancel the deal, an advisor for the company said in a stock filing today. Keppel posted a net loss of SGD 697m (USD 507m) for the first half of 2020.

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