Global Offshore denies Bourbon link

Global Offshore, an India-based provider of offshore support vessels for the oil and gas industry, has denied being in takeover talks with France’s shipowner Bourbon Offshore.

In response to media writings that Bourbon is expected to launch an offer for a 50.1% stake in Global Offshore, the Indian company said that :“No negotiations are taking place between the Promoter / Company and Bourbon to acquire shares of the Company.”

Global Offshore shares jumped yesterday after an article titled: “France’s Bourbon set to acquire Global Offshore” was published in Hindu Business Line.

However, Global Offshore added that it was not aware of any information that has not been announced to the Bombay Stock Exchange, which could explain the movement of the trading price of its shares.

Global Offshore’s vessels, supporting offshore oil and gas operations, operate around the globe. Global Offshore Services currently has Platform Supply Vessels deployed in India, the North Sea, Brazil and West Africa.

[mappress]