Clarification on the Article Titled Game Changer-Deal For Icon Offshore Which Appeared In The Star On 6 July 2020 BackJul 06, 2020 Type Announcement Subject OTHERS Description ICON OFFSHORE BERHAD ("ICON" OR "THE COMPANY")
CLARIFICATION ON THE ARTICLE TITLED GAME CHANGER-DEAL FOR ICON OFFSHORE WHICH APPEARED IN THE STAR ON 6 JULY 2020
We refer to the article titled “Game-Changer Deal for Icon Offshore” which appeared in The Star on 6 July 2020 in relation to the proposed acquisition by the Company of a subsidiary of Perisai Petroleum Teknologi Bhd. (“Perisai”) that owns and operates a jack-up rig known as Perisai Pacific 101 (“Rig”).
The Company wishes to clarify that it is in negotiation and discussion with Perisai and its subsidiaries (“Perisai Group”) in relation to the proposed acquisition by the Company and/or its subsidiary of the Rig and equity stakes in the related drilling business from the Perisai Group (“Proposals”) with a view towards finalising the terms and conditions of the Proposals.
Once the terms and conditions have been finalised and the definitive agreements have been signed, the details of the Proposals will be released and the necessary announcement will be made on a timely basis as required by the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.
Icon Offshore: In talks to buy Perisai's jack-up rig business. Icon Offshore has announced that it is currently negotiating with Perisai Petroleum to acquire the latter's subsidiary, Perisai Petroleum Teknologi, which owns and operates a jack-up rig known as Perisai Pacific 101 (PP 101). It was responding to a newspaper report saying that Icon Offshore would be acquiring Perisai Petroleum Teknologi for USD40m (RM173m), a fraction of the USD200m Perisai paid in 2014. (The Edge)
Add more when people sell cheap. Now Parliament ongoing sooner of later will question what govn will do to improve GLCs(Govn owned companies eg Ekuinas).
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RobinHood95
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Posted by RobinHood95 > 2020-07-06 20:23 | Report Abuse
Seems to be a healthy acquisition