On April 27, 2022, Rajah & Tann Singapore LLP played a pivotal role in the landmark S$4.5 billion merger between Sembcorp Marine Ltd and Keppel Offshore & Marine Ltd, forming the world’s largest oil-rig builder. The legal team, representing Temasek Holdings (Private) Limited, was led by Partners Sandy Foo, Hoon Chi Tern, Favian Tan, Goh Jun Yi, Chua Choon King, Lim Chen Chen, Lee Xin Mei, Eugene Lee, Adzfar Alami, and Dodo Lim. They were supported by lawyers Hilary Toh-Chin, Jessica Seet, Magdalene Chan, Cherie Tan, Pethuel Ho, Nicole Ong, and Chook Win Kit.

This merger, with an aggregate consideration of approximately S$4.495 billion, resulted in an enlarged entity listed on the SGX-ST, boasting a market capitalization of around S$8.67 billion. In a connected transaction, the team also advised Temasek on the sale of Keppel O&M’s legacy rigs and associated receivables for approximately S$4.058 billion.

The combined expertise of Rajah & Tann’s legal professionals was instrumental in navigating the complexities of these transactions, underscoring the firm’s leading position in handling significant mergers and acquisitions in the region.

(Sources)