In today’s briefing:
- Keppel Infrastructure Trust (KIT) – Global Marine Group Acquisition: A Case for Rejection
Keppel Infrastructure Trust (KIT) – Global Marine Group Acquisition: A Case for Rejection
- Corporate Monitor strongly recommends that unitholders of Keppel Infrastructure Trust (“KIT”) reject the proposed acquisition of a 46.7% interest in Global Marine Group (“GMG”) for approximately S$119 million, with additional equity commitment of S$68 million.
- Keppel Infrastructure Fund (“KIF”), managed by Keppel Ltd., owns another 46.7% stake and the balance is held by a co-investor.
- KIT argues that GMG operates in a resilient, high-barrier subsea cable industry supported by strong structural demand drivers.
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