Keppel Offshore & Marine (Keppel O&M), has entered into a ‘term sheet’ agreement with Damen Shipyards Group (Damen) for the sale of its shipyard, Keppel Verolme.
Keppel Verolme is in Rotterdam, Netherlands, and has about 250 employees. Damen intends to continue activities in the shipyard with the current employees of the yard
A notification of the proposed transaction was filed with the Dutch Authority for Consumers & Markets on 10 April 2017. The parties will work towards finalising definitive agreements, and the completion of the transaction will be subject to closing conditions and the receipt of relevant approvals. The targeted timeline to close the transaction is by the end of Q2 2017. - April 2017