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Falcon Energy makes General Offer for CH Offshore

Vincent Chia
Falcon Energy makes General Offer for CH Offshore

Falcon Energy Group Limited announced that it is making a General Offer for CH Offshore Limited. CH Offshore is listed on the SGX Mainboard. It operates a fleet of 15 AHTS vessels and has a 30 year track record. As at announcement, Falcon Energy already owns 29.07% of CH Offshore. The offer price is 49.5 cents a share and represents a 6.45% premium over the pre-announcement closing price of 46.5 cents. The acquisition will expand Falcon Energy’s Marine Division fleet and variety of vessels. It can thus cater to a broader group of customers. Falcon Energy also believes it can unlock synergies in CH Offshore if it achieves statutory control of it.

GET TO THE POINT : Always good to expand the number and type of vessels in the fleet, at the right price and timing.

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