AsiaOffshore

Falcon Energy’s offer for CH Offshore becomes unconditional

Singapore: Falcon Energy’s bid to take over all the shares of Singapore-listed CH Offshore has now turned unconditional, according to a release from CIMB Bank. Falcon held 62.27% of CH Offshore’s shares as of close of business yesterday, crossing the majority 50% threshold to make the voluntary offer unconditional.

On February 10, shares of CH Offshore rose 7.8% to 55 cents, the highest since October 2010, after a sweeteened takeover offer. Chuan Hip Holdings, which owned 24.7% of CH Offshore, accepted this new offer paving the way for the takeover.

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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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