The proposed combination will unlock synergies by bringing together the strong track records and capabilities of the two companies, putting the Combined Entity in a strong position to expand and compete more effectively in its areas of focus amidst the energy transition.
Sembmarine will undergo an internal restructuring exercise whereby its shareholders will exchange their shares for shares in NewCo on a one-for-one basis.
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The proposed combination is subject to regulatory approvals and expected to be put to respective shareholders for approval in the fourth quarter of this year.
The additional divestment gain of 208.
Infrastructure is an okay business, but the margins are nothing to shout about.