Keppel Shipyard sells stake in Keppel Philippines

KEPPEL Philippines Marine Inc said its Singaporean shareholder, Keppel Shipyard Ltd, has agreed to sell all its 584.97 million shares in Keppel Philippines to KS Investment Pte Ltd.

KS Investment will end up owning 29.44% of the outstanding capital stock of Keppel Philippines, a company engaged in shipbuilding and repair. The remaining shares in Keppel Philippines are owned by various investors.