Keppel to assume control of Rigco Holding's 13 legacy rigs
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Keppel will take control of Rigco Holding's 13 legacy rigs following a selective capital reduction (SCR) exercise. After the SCR, expected to complete by the end of 2024, Rigco will become a wholly-owned subsidiary of Keppel. This move allows Keppel to manage the monetization of Rigco's assets and access cash held by Rigco to finish ongoing projects.
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Source: Singapore Business Review The copyright of this article belongs to the original author/organization.
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