KEPPEL TO RESTRUCTURE TOWAGE BUSINESS
August 25, 1999
Keppel Corp Ltd said on Tuesday it was restructuring its towage business which will be completed by the end of September. In a statement, the company announced that it has signed a letter of intent with Smit International Ltd. to sell 49 percent of its wholly-owned unit Maju Maritime Pte Ltd. to Smit.
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