Keppel brings Apollo into legacy rig sell-down
Apollo has agreed to invest $1.5bn in a new Keppel-managed fund set up to hold up to 10 legacy offshore drilling rigs. The Keppel Offshore Fund will initially acquire six operational rigs from Keppel subsidiary Rigco Holding for about S$1.2bn ($957m). Keppel is expected to receive around $478m in cash from the first phase, which …