Debt restructuring for Bibby Offshore

Debt restructuring for Bibby Offshore

Bibby Offshore is set to go through a debt restructuring, according to The Times newspaper. The company has hired consultants EY to reorganise its finances.

Bibby Line Group has worked offshore since the early 1980s. In 2003, the group consolidated all its offshore activities into Bibby Offshore, based in Aberdeen. It now focuses on two areas: subsea construction/IRM and offshore operational and maintenance support.

Earlier in the month it was rumoured Dutch offshore and dredging giant Boskalis was looking at buying into Bibby Offshore in a deal which would value the company at around £52m.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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