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Keppel's subsidiary disposes of 35% stake in PV Drilling Overseas Company


Published Aug 26, 2014
Keppel Offshore and Marine Ltd

Keppel Corporation Limited’s wholly-owned subsidiary, Joy Pride Investments Limited (Joy Pride), has on 22 August 2014 disposed of its 35% shareholding interest in PV Drilling Overseas Company Private Limited (PVDO) to PetroVietnam Drilling and Well Service Corporation and Overseas Drilling Holdings Ltd for US$350. PVDO has ceased to be an associated company of the Company.

Fullerton Fund Management Company Ltd. (Fullerton Fund Management), a subsidiary of the Company’s controlling shareholder, Temasek Holdings (Private) Limited, has a deemed interest in 1,283,004 shares, representing approximately 0.47% of the issued share capital of PetroVietnam Drilling and Well Service Corporation, held in third-party funds managed by Fullerton Fund Management as an investment manager.

Tags: Keppel Corporation Limited




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