Keppel Corporation is taking control of 13 legacy rigs held by Rigco Holding through a selective capital reduction exercise. This move aims to accelerate the monetization of these assets amid an improving offshore rig market.
Keppel Corporation
By managing these rigs through a new private fund, Keppel plans to attract third-party capital, reduce debt, reinvest for growth, and reward shareholders.
The company emphasizes that it has no intention of re-entering the offshore and marine business but aims to better realize the potential of its legacy assets.
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