Mergers & Acquisitions News

 

Sonardyne Acquires 2G Robotics

Feb 04, 2020

UK-based marine technology company Sonardyne International announced it has acquired Canadian underwater imaging and inspection specialist 2G Robotics.2G Robotics will join the Sonardyne group of companies, while remaining an independent business and brand…

RockRose to Buy Speedwell and Its North Sea Gas Asset

Feb 04, 2020

RockRose Energy has signed a deal to buy Speedwell Energy, a company owning a 100% stake in the Cotton gas field in the UK sector of the Southern North Sea. RockRose said Tuesday that the deal was 'for a limited initial consideration,' with…

Petrobras Puts Papa Terra Offshore Oil Field Up for Sale

Feb 03, 2020

Brazil's Petrobras has launched a teaser for the sale of its entire share in the Papa Terra field, 110 kilometers from the coast offshore Brazil.The Brazilian oil company said that the planned sale of the field was in line with its portfolio optimization and improvement of capital allocation…

Fugro, HC2 Divest Global Marine Group Stake

Feb 02, 2020

US-based financial services company HC2 Holdings and the Dutch multinational provider of geo-intelligence Fugro have sold offshore engineering specialist Global Marine Group (GMG) to private equity firm J.F. Lehman & Company for a sum of USD 250 million…

Report: Chrysaor Talks to Buy Rival Siccar Point End

Jan 31, 2020

North Sea private equity-backed Chrysaor's talks to buy smaller regional rival Siccar Point have ended after a large gap between their price expectations, three sources close to the process said. The breakdown in negotiations highlights difficulties…

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…

JFLCO Acquires Global Marine Group

Jan 31, 2020

British-headquartered specialist provider of submarine cables Global Marine Group (GMG) has been acquired by an investment affiliate of private equity firm J.F. Lehman & Company (JFLCO) for around $250 million.With a legacy dating to 1850, GMG…

UK Might Block Prosafe-Floatel Merger

Jan 30, 2020

The proposed merger between Prosafe and Floatel, two of the largest offshore accommodation providers, has hit a stumbling block in the UK after an in-depth review by the competition authority said the deal 'raises competition concerns.'The two…

Energean Excludes Algeria from Edison E&P Buy

Jan 29, 2020

Algeria has definitely been excluded from Energean's pending acquisition of Edison E&P.The Greek oil and gas company in July last year agreed to buy Italy-based Edison's oil and gas subsidiary Edison Exploration & Production for an initial consideration of $750 million…

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…

VAALCO Targets M&A for Growth

Jan 27, 2020

Africa-focused oil company VAALCO Energy has appointed William R. Thomas as president to help its M&A ambitions.VAALCO said: 'The Board believes the appointment of an experienced executive, with a commercial background in investment banking and proven track record for M&A-led value creation…

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…

PGNiG Open to Mergers with State-run Firms

Jan 24, 2020

Polish gas company PGNiG is open to consolidation with other energy companies, its newly appointed chief executive said on Friday, as the government tries to merge state-run firms to strengthen their market position.The Polish state is a major shareholder in the energy sector…

EDPR, Engie Team Up to Build Offshore Wind Giant

Jan 24, 2020

Wind energy companies EDP Renewables and Engie have signed a deal to form 50/50 joint-venture (JV) in fixed and floating offshore wind.EDPR and ENGIE will combine their offshore wind assets and project pipeline in this new entity, starting with a total of 1…

Offshore Helicopter Players Bristow, Era to Merge

Jan 24, 2020

Offshore helicopter specialists Bristow and Era have entered into a definitive merger agreement.In a joint statement on Friday, Bristow and Era said the combination in an all-stock transaction would create 'a financially stronger company with enhanced size and diversification…

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