PARIS, Sept 23 (Reuters) - Shipping group CMA CGM has agreed to buy a 30% stake in French airline company Groupe Dubreuil Aero as it continues to extend its presence in non-maritime transport. CMA CGM, the world's fourth-largest container shipping firm, said in a statement on Wednesday that it would acquire the stake through a capital increase and acquisition of ordinary … [Read more...]
Temasek Unit Scraps $3 Billion Bid for Keppel
By Krystal Chia (Bloomberg) -- Kyanite Investment Holdings, a unit of Singapore state-backed investor Temasek Holdings Pte, scrapped its bid to take control of Keppel Corp. after the oil-rig builder posted a second-quarter loss. Kyanite invoked a clause allowing it to withdraw the offer after the quarterly loss failed to meet pre-conditions of the bid, it said in a statement … [Read more...]
Temasek’s $3 Billion Bid for Keppel at Risk as Conglomerate Reports Big Loss
By Aradhana Aravindan and Anshuman Daga SINGAPORE, July 31 (Reuters) - Singaporean conglomerate Keppel Corp swung to a big second-quarter loss on Thursday that breaches a threshold in state investor Temasek Holdings' $3 billion conditional offer to buy control of the company. Last October, Temasek offered to increase its one-fifth stake in Keppel to 51%, raising expectations … [Read more...]
Huntington Ingalls Makes Strategic Investment in Autonomous Technology Company Sea Machines
Boston-based Sea Machines says it has raised $15 million in funding with significant participation from Huntington Ingalls Industries (HII), America’s leading military shipbuilder. Founded in 2015, Sea Machines has become the United States' leading company in autonomous ship technology and currently provides commercial, recreational and government customers across the world … [Read more...]
Wilhelmsen Ship Management Acquires 50% Stake in Ahrenkiel Steamship
Wilhelmsen Ship Management has teamed up with Hamburg-based investment firm MPC Capital by acquiring a 50% stake in Ahrenkiel Steamship, a MPC Capital subsidiary. Once finalized, the joint venture will operate under the brand “Wilhelmsen Ahrenkiel Ship Management” and provide technical management to a fleet of 72 containerships, with a focus on feeder ships between 1,000 and … [Read more...]