Keppel: Sale Of 50% Stake In Keppel Kazakhstan For US$32.5 Million

Keppel Corporation Limited's wholly-owned subsidiary, FELS Offshore Pte Ltd, has entered into a sale and purchase agreement with KazStroyService Global Engineering B.V. for the sale of 2 shares, representing 100% of the issued and paid up capital of Berich Enterprises Limited, an indirect wholly-owned subsidiary of the Company, at a consideration of US$16,250,000 per share. Berich is an investment holding company that holds 50% of the issued and paid up capital of Keppel Kazakhstan LLP, an associated company of the Company. The principal activities of Keppel Kazakhstan are the design, engineering and construction of barges, pontoons, pipe racks, modules, and drilling units for the oil and gas industry in the Republic of Kazakhstan. The aggregate cash consideration is US$32,500,000.