Fulfilment of Conditions Precedent in the Agreement for Sale of Semi-submersible Rig
Singapore, May 10, 2018: Further to the announcement made on 26 December 2017 in relation to the sale by Sembcorp Marine’s wholly-owned subsidiary, Jurong Shipyard Pte Ltd (“JSPL”), of a semi-submersible rig, named West Rigel, to a buyer at a price of US$500 million, Sembcorp Marine Limited wishes to announce that the conditions precedent for the agreement to be effective have been fulfilled. JSPL has proceeded with delivery of title of the semi-submersible to the buyer but it will remain in the Company’s yard for certain works to be undertaken for reactivation.
For more information, please contact:
Ms Lisa Lee
Head of Investor Relations
Tel No: (65) 6262 7107
Mr David Wong
Head of Corporate Communications
Tel No: (65) 6262 8036
For the PDF version of this announcement, please click here.