Falcon Energy places buy-out bid for CH Offshore

Singapore: Singapore-listed Falcon Energy Group has made a bid worth S$247.4m for offshore support service provider CH Offshore (CHO) through its subsidiary holding company, Energian.

Energian will make a voluntary conditional cash offer for all CHO’s issued and paid-up ordinary shares for the price of S$0.495 per share, an exchange filing said today.

Falcon Energy and its subsidiaries currently own approximately 29.1% (205,170,000 shares) of the total number of issued CHO shares.

Singapore-based CHO and its subsidiaries currently operate a fleet of 15 anchor handling tug supply vessels, nine of which are owned by the company. Four vessels are co-owned with PT Bahtera Nusantara Indonesia and the remaining two vessels are co-owned with Scomi Marine, Malaysia.

The group has customers in southeast Asia, the Middle East, the Americas, Africa and Russia, and has been established for over 30 years. [11/12/14]

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