Bristow takeover?

[Helismith]

Is there any basis to the rumor that Bristow is taking over a Canadian Helicopter company not beeing CHC? I have heard this mentioned by several sources.

[Canadian Rotorhead]

I heard that they had a local partner to bid some recent offshore work in Nova Scotia but the bid had been withdrawn early in the process. Again, rumour mill generated.

[Daylite]

I have also heard this rumour! Word has it that it is Cougar. Bristow have recently completed a ferry flight of 1 S92 to Cougar with a further three to follow later in the year ?? Just rumour ? This is the Bristow way! Buy up business!!!

[twisted wrench]

Interesting rumor for sure. Add the 4 Bristow S92 to about 10 S92´s Cougar have all ready. Could be expanding more from St. Johns, Halifax, Green Land and the Guld of Mexico.

Wonder if VIH ( parent company) would sell off the Cougar operations????

Maybe Bristow will buy the complete company Vancouver Island Helicopters and take it all???

[TiPwEiGhT]

The S92 that has gone to Cougar is a dedicated machine to Statoil in Norway, they are drilling off the coast of Canada and wanted the machine there to be flown by Cougar crews for 6 months.

Rumors I have heard is Bristow are potentially taking over Heli-One. Probably cr@p though.

TiP

[drop lead]

LOL ! Thats a good one....Bristows taking over Heli-None.....I think Bristows are smarter than that and will be able to recognize a Lemon!

[malabo]

What good is this forum if I have to read it in a newspaper first?

[Halerotor]

:cool:Helismith wrote Jul 7. 2011:



Bristow takeover?
Is there any basis to the rumor that Bristow is taking over a Canadian Helicopter company not beeing CHC? I have heard this mentioned by several sources.

[Kowalskii]

Bristow Group invests $250 million in Canada's Cougar Helicopters | Business | Reuters (http://ca.reuters.com/article/businessNews/idCABRE8830DG20120904)

[chute packer]

Posted today:
I am pleased to announce that Bristow Group has signed a definitive agreement with VIH Aviation Group (VIHAG) to acquire from VIHAG and its affiliates certain operating assets located in Canada and also invest in a minority interest in VIHAG’s Canadian subsidiary, Cougar Helicopters Inc. (Cougar). Bristow will be acquiring eight S-92s along with maintenance and hangar facilities located in St. John’s, Newfoundland & Labrador, and Halifax, Nova Scotia, which will be leased back to Cougar.

Cougar is Canada’s largest offshore oil and gas and SAR helicopter service provider. The relationship will enable us to enter a new market and, working in partnership with Cougar’s experienced management team, leverage Cougar’s leading market position to take advantage of future growth opportunities in Atlantic Canada.

Cougar’s existing management team will continue to direct operations; current employees number approximately 250. Bristow will lease the eight S-92 aircraft and facilities to Cougar and provide value-added services, such as helicopter maintenance. Cougar’s results will report through NABU.

We view this investment as important to expanding our involvement in North American oil and gas operations, as well as increase our SAR capabilities globally.

We believe Cougar will be a good partner for Bristow given Cougar’s strong commitment to safety, quality and service and compatible culture. We also already have strong relationships with many of Cougar’s clients, among them Statoil, Exxon and Chevron. I believe our industry leadership and best practices in safety and performance, combined with Cougar’s strong local presence in Atlantic Canada, will help us achieve our goal of being the first choice offshore helicopter services provider in the North American market.

[paco]

I believe they are sharing best practices and Bristow are long-leasing some 92s to Cougar.

phil

[terminus mos]

Interesting move. Looks like an S-92 asset purchase and leaseback by Bristow to Cougar with some other cooperation conditions thrown in.