Tanjung Offshore announced a lengthy three-day share suspension prompting speculation that it would see an injection of new assets that would prompt its re-emergence as an OSV player. Tanjung Offshore has been out of the OSV market since it sold its core OSV business to Malaysian government-linked private equity fund Ekuiti Nasional (Ekuinas) in July 2012 for MYR220m ($68m).
Bourbon Offshore Asia will reportedly inject up to nine vessels into Tanjung Offshore in a deal which will likely result in a reverse takeover of the Malaysian company.
Tanjung Offshore has been known to be looking for a new core business. It was said to be in the final stages of a MYR1bn deal to take a controlling stake in a foreign rig-owning company but it later transpired that discussions were only in the preliminary stages and nothing further has emerged.
Analysts said that if this latest big deal does eventuate, it could provide a boost to Tanjung Offshore's business.
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