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    SembCorp to focus on key businesses; to privatize SembCorp Marine

    News // July 5, 2002
    As part of its strategy of focusing on and growing its key businesses, SembCorp Industries Ltd (SCI) has announced that it intends to privatize SembCorp Marine Ltd (SCM) by way of a scheme of arrangement under Section 210 of the Companies Act, Chapter 50(Scheme). In consideration, SCI will pay S$1.10 in cash for each SCM share transferred to it under the Scheme.

    If the scheme is accepted by shareholders, it is anticipated that SembCorp Marine will be de-listed from the Singapore stock exchange, and will then merge with Sembawang Marine & Offshore Engineering, thus enabling the merged company to compete more effectively in the international marine and offshore construction markets.

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