CHC takes over Helikopter Services

[AllyPally]

Looks like CHC has taken over HS will this mean BIH and Bond merging. What will this mean for the boys and girls in the NS a pay cut to finance the deal?

[barsandstars]

Chaps,
Once apon a time BIH had the wonderful Shell contract. It's a wee bit ironic that now Bristows are gasping for breath having won that contract.
But individuals are at stake here with huge responsibilities. Can I suggest that there is some co-operation between the helicopter companies to keep those professionals employed in offshore support to be able to carry on doing their job with little family disrupment.
Good luck to you all, but the accountants will take their toll!

[tigerpilot]

This is all a bit confusing.

Yesterday on the BBC news they said that CHC had been successful in their bid, and now had 70% (?) of HS shares, but I today received an email from a colleaugue at HS who says that CHC have extended he deadline to 23 JUN, and up the offer to NK60 per share?

Can anybody cast any light on this?

I agree about co-operation, it is about time the management of the UK NS companies stopped squabling like children over a lollipop, and agreed on a bottom line for charter rates before the oil companies force all of us down the tubes.

Solidarity, brothers, is what is required.

[busman]

I can confirm that HS employees have been told that the deadline is now the 23rd of June and that CHC want 90 per cent of HS before proceeding.


[This message has been edited by busman (edited 26 June 1999).]

[busman]

Latest CHC Press release!!

CHC HELICOPTER CORPORATION ANNOUNCES FURTHER ACQUISITION IN HELICOPTER SERVICES GROUP ASA

Thursday, June 10, 1999, St. John’s Newfoundland: Vinland Helicopters AS, an indirect Norwegian subsidiary of CHC Helicopter Corporation (TSE: FLY.A and FLY.B; NASDAQ: FLYAF) announced today that tomorrow morning, before the opening of the Oslo Stock Exchange, it will increase its previously announced cash offer for all of the shares of Helicopter Services Group ASA (OSE: HES) not already held by it from 45 NOK per share to 60 NOK per share, and will extend the offer period until June 23, 1999.

Vinland currently owns or controls approximately 37% of the outstanding shares of HSG. In addition, 31% of the outstanding shares have either been tendered to Vinland’s offer or are subject to an agreement by the holder to tender its shares to the revised offer. Vinland’s offer remains conditional on Vinland receiving acceptances covering a minimum of 90% of HSG’s outstanding shares, the successful completion of a due diligence review of HSG, and obtaining material consents from government and regulatory authorities. These conditions can be waived or amended at Vinland’s discretion.

If the acquisition of HSG by Vinland is completed successfully, CHC will dispose of certain surplus helicopters from its fleet, which will not be necessary for the combined operations. The transaction will be for up to 12 aircraft and will include 4 to 6 Super Pumas.

CHC is a worldwide provider of helicopter transportation services and operates 209 light, medium and heavy helicopters across Canada and around the world. The Company has 1,000 employees.

[barsandstars]

BP, Mobil, and now AMOCO!*#?

Does anyone know how many aircraft are involved in the AMOCO contract, and from which base?

[tigerpilot]

76s from North Denes, as far as I know.

Don't know how many.