MISC denies Bumi Armada FPSO merger talks (Malaysia)
Following reports that Malaysia’s shipping giant MISC, and offshore vessel provider Bumi Armada could merge their respective FPSO businesses, MISC has denied the allegations.
Namely, in a statement issued on Wednesday, the company said: “In response to recent market speculation, MISC wishes to state that the company is not in any discussions with Bumi Armada Berhad on any potential transaction.”
According to the Malaysian media writings, the deal, had it happened, would entail MISC divesting its FPSO business to Bumi Armada, in exchange to shares.
This would make Bumi Armada one of the world’s largest FPSO owners with a fleet of 12 such units, plus three under construction.
Offshore Energy Today has reached out to Bumi Armada, seeking comment. We will update the article if we get a response.
Offshore Energy Today Staff