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Bourbon confirms talks with Tanjung Offshore

Bourbon Far East parent Bourbon has released a statement confirming earlier reports that it is in talks with Malaysia's Tanjung Offshore to take over the company.

Vincent Wee, Hong Kong and South East Asia Correspondent

June 6, 2014

1 Min Read
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The two parties have entered into "exclusive discussions for the sale of 51% ownership of nine Bourbon Offshore Supply Vessels (OSVs) operating in Malaysia" it saild in a press release.

"In parallel, Tanjung has invited Bourbon to become a shareholder in their company. Both parties are actively reviewing the proposed transaction and a final decision will be made within the coming months," Bourbon added, saying further that it would not comment further at this point.

Malaysian local media had reported earlier this week that the OSV assets would be injected into Tanjung Offshore in a reverse takeover deal as Tanjung sought a re-entry into the OSV business.

About the Author

Vincent Wee

Hong Kong and South East Asia Correspondent

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

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