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Keppel, Sembcorp Marine agree to explore business combination

SINGAPORE, June 24 (Reuters) - Sembcorp Marine said on Thursday it has agreed to explore a potential combination with Singapore conglomerate Keppel Corp’s offshore and marine (O&M) businesses.

Earlier, Reuters cited sources as saying the Temasek-backed companies were set to begin talks to explore combining their O&M businesses.

Sembcorp also announced a S$1.5 billion ($1.12 billion) fully committed rights issue.

$1 = 1.3445 Singapore dollars Reporting by Anshuman Daga and Aradhana Aravindan; editing by Jason Neely

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