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.

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 said 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.