Bourbon, Tanjung deal off

Malaysian Group Tanjung Offshore and France’s Bourbon aarlier this year entered into exclusive discussions for the sale of 51% ownership in Bourbon’s 9 Offshore Supply Vessels (OSV) operating in Malaysia. In parallel, Tanjung then invited Bourbon to become a shareholder in their company.

However, the companies today issued statements saying the deal is off. The companies have  terminated by joint agreement exclusive discussions initiated in spring 2014. According to the companies, the economic and financial conditions for an agreement satisfying both parties have not been met, in view of the declining oil prices.

Bourbon, based in France, has said it remains attentive to future developments on the Malaysian market.

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