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Mergers & Acquisitions News

 

BP to Sell Petrochemicals Business to Ineos for $5B

Jun 29, 2020

British oil major BP will sell its global petrochemicals business to Ineos for $5 billion, a transaction delivering BP's divestments target a year earlier than originally scheduled.Brian Gilvary, BP’s chief financial officer, said: “With today’s…

Seafox Drops Takeover Pursuit of GMS

May 28, 2020

Dutch jack-up services company Seafox has ended its pursuit to acquire rival Gulf Marine Services.After it in April floated an idea about the possible takeover of GMS, the GMS board rejected the plan deeming the move opportunistic, valuing the company's equity 'at only US$32 million…

Santos Completes Acquisition of ConocoPhillips' Australia Assets

May 28, 2020

U.S. oil company ConocoPhillips has completed the sale of its Australia-West assets and operations to Australia's Santos.The two companies in October 2019 struck a deal for Santos to acquire ConocoPhillips’ northern Australia business with operating interests in Darwin LNG…

Bristow, Era Elect Executive Leadership Ahead of Merger Wrap

May 13, 2020

Offshore helicopter service providers Bristow and Era have elected new executive leadership to lead the company once their proposed merger is complete, which is expected to happen next month.The companies said the executive leadership team will…

GMS Rejects Seafox Proposal Again

May 07, 2020

Gulf Marine Services (GMS), a UAE-based owner of a fleet of jack-up service units for the offshore energy industry, has again rejected Seafox's takeover proposal and has urged its shareholders to do the same.Seafox, the Dutch owner of a fleet of offshore jack-up service vessels…

Seafox Hopes GMS Will Reconsider on Takeover Proposal

May 06, 2020

Offshore jack-up rig company Seafox has increased its ownership in rival and takeover target Gulf Marine Services to 16.39 percent by acquiring 9,38 million shares in GMS on the market at a price of 10 pence per share on Tuesday.The Dutch company also made a 'no increase' statement…

GMS Rejects 'Opportunistic' Takeover Proposal by Seafox

May 04, 2020

Gulf Marine Services (GMS), a UAE-based provider of offshore service jack-up units has rejected a takeover proposal from Seafox.Seafox on April 30, 2020, announced an unsolicited and non-binding approach to acquire the entire issued and to be issued share capital of Gulf Marine Services…

Dyna-Mac, China Merchants Heavy Industry Form JV Firm

Apr 09, 2020

Singapore-based FPSO module specialist Dyna-Mac and China's offshore equipment and vessel builder China Merchants Heavy Industry Holdings (CMHIH) have entered into a joint venture deal.Under the agreement, the two companies will create the DM-CMHI Heavy Industry company in China…

Chevron Wraps Sale of Malampaya Field Stake

Mar 13, 2020

U.S. oil major Chevron has completed the exit from the Shell-operated Malampaya gas project offshore the Philippines with the sale of its 45% non-operating interest in the field to Udenna Corporation. The sale deal was signed in October 2019…

Santos Sells 25% in Darwin LNG and Bayu Undan Field for $390M

Mar 12, 2020

Australia's oil and gas company Santos will sell a 25% interest in Darwin LNG and Bayu Undan gas condensate offshore field to SK E&S for US$390 million with effect from October 1, 2019 with customary adjustments on completion.Santos also said…

CNOOC Pondering Internal Merger for Gas, Power Unit

Mar 10, 2020

China National Offshore Oil and Gas Corp (CNOOC) is set to inject its struggling natural gas terminal and power unit into its flagship listed vehicle CNOOC Ltd, three senior sources with knowledge of the matter said. The plan for the internal merger…

KrisEnergy Ditches Vietnam Block to Focus on Cambodia

Feb 14, 2020

Southeast Asia-focused oil company KrisEnergy has agreed to transfer its Block 115/09 offshore Vietnam to an undisclosed international oil company.Debt-laden KrisEnergy said it would transfer its entire 100% working interest in Block 115/09 for nominal cash consideration…

Coro Energy Pulls Out of Bulu PSC Deal

Jan 31, 2020

The Southeast Asian focused oil company Coro Energy will not be buying a share in the Bulu PSC, offshore Indonesia, citing  increased risks around the Bulu project.'The company had in September 2018 agreed to buy a 42.5% interest in the shallow water (60m) block offshore East Java…

Kuok in Compulsory Takeover of Remaining POSH Shares

Jan 28, 2020

Quetzal Capital, a Kuok Group company, has launched compulsory acquisition for the remaining shares of the Singapore-based offshore vessel operator PACC Offshore Services Holdings, also known as POSH. Quetzal had launched a cash takeover offer for POSH back in November 2019…

Pacific Radiance Eyeing New Loan Source

Jan 24, 2020

Singapore-based offshore vessel owner Pacific Radiance has started loan talks with „a global investment fund“ after its discussions with an investor stalled in December 2019.Pacific Radiance had in August 2019 said it was in talks with an unnamed financier over a $180 million loan which it would…

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