Singapore: Amid a period of low oil prices that are hitting its bottom line, Keppel Corporation, the parent of one of Singapore’s top shipyards, is divesting itself of non-core businesses. It has just sold 1.36m shares representing 66.71% in offshore technology firm DPS Bristol to DPSH One for £1.08m ($1.63m), of which up to £1m will be paid in installments over a five-year period after completion based on the total revenue generated by the DPS group of companies during the said period.
DPSH One already held the remaining shares in DPS Bristol. DPS is involved in the design and supply of integrated process systems, packages and technologies for the upstream oil and gas and environmental technology industries.
