Temasek pulls out of Keppel acquisition

Singapore’s sovereign wealth fund Temasek Holdings has pulled its planned takeover of Keppel Corp, citing the company’s dire second quarter results. Keppel, one of Singapore’s most diverse conglomerates involved in property development, ship repair and rig-building, sank into a net loss of S$697m ($507m) for April to June, from a net profit of S$153m a …

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