Bristow buying Columbia
Thread Starter
Joined: Aug 2007
Posts: 151
Likes: 29
From: Cyberspace
Bristow buying Columbia
Interesting way to deal with parlous Balance Sheet:
Bristow Investors ? News Release ? BRS ? bristowgroup.com
Not sure the CEO was in favour.......
http://ir.bristowgroup.com/phoenix.z...cle&ID=2376475
....discuss !
Bristow Investors ? News Release ? BRS ? bristowgroup.com
Not sure the CEO was in favour.......
http://ir.bristowgroup.com/phoenix.z...cle&ID=2376475
....discuss !
Joined: Sep 2017
Posts: 53
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From: Aberdeen
I’m sure someone with more insider info will come along and correct me but I always thought he spoke well at industry events and seemed well respected in the O&G world.
This latest set of figures tho are pretty disappointing to say the least.
I’m surprised they retain Fixed Wing operators to provide integrated solutions. Seems crazy given how much they are contributing to their losses?
Again I’m probably wrong but it seems to me to be the difference between the other (UK) operators who seem to be just about getting their heads above water who use 3rd party operators and BRS who seem to continue to loose money.
This latest set of figures tho are pretty disappointing to say the least.
I’m surprised they retain Fixed Wing operators to provide integrated solutions. Seems crazy given how much they are contributing to their losses?
Again I’m probably wrong but it seems to me to be the difference between the other (UK) operators who seem to be just about getting their heads above water who use 3rd party operators and BRS who seem to continue to loose money.
Joined: Aug 2013
Posts: 160
Likes: 5
From: Europe
A bad other example what happens if a Global Player (��) takes over is just happening in Germany. After Babcock took over a prospering Heli-Aviation, they run everything to the ground and now will cease operations and close the doors for good by March 19.
Joined: May 2002
Aviation Qualifications: ATP+Mil
Posts: 18,633
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From: Downeast
When you see Columbia show up on a fire with a Chinook....or even a 107......with all their first class kit....and you think back to how Bristow used to show up on short term contracts.....and the only thing you can hope is that Bristow will shut their mouths....open their eyes and ears....and LEARN.
As Bristow is run from Houston now....there is some hope....slim hope as Air Dog was just a Cajun Bristow.
I somehow wonder if there was a covert operative at Columbia....a wee fellow who once swept hangar floors in the Shetlands!
Perhaps he can have a favorable input on how this deal goes....as he is a very good and experienced guy.
Wise folks at Bristow will give him an ear....as he knows what he is talking about!
As Bristow is run from Houston now....there is some hope....slim hope as Air Dog was just a Cajun Bristow.
I somehow wonder if there was a covert operative at Columbia....a wee fellow who once swept hangar floors in the Shetlands!
Perhaps he can have a favorable input on how this deal goes....as he is a very good and experienced guy.
Wise folks at Bristow will give him an ear....as he knows what he is talking about!
Joined: Jan 2008
Aviation Qualifications: CPL
Posts: 187
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From: Europe
That's not what I heard from multiple sources within the German Heli Industry.... word is their main investor pulled out after years of not making any money and not having the possibility anymore to write off any losses through the company.
Joined: Feb 2006
Posts: 3,536
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From: The Alps
muermel ,
Wonder if HEMS operation has too much competition with the likes of ADAC, DRF- Luftrettung? Plus the operational costs of the 365N3 could not be justified ?
Back to thread, wonder if the BV107/BV234/CH47D will be releiquish their iconic red and white colours thus be repainted in the Bristow blue white and red....
Cheers
Joined: Feb 2006
Posts: 3,536
Likes: 295
From: The Alps
Stalled
Bristow Group’s plan to merge with Oregon-based Columbia Helicopters appears to have hit a snag. In November, Bristow announced its intention to acquire Columbia for $560 million in a cash/debt/stock deal that was expected to close by the end of 2018. One month after announcing the deal, Bristow filed a Form 8-K with the U.S. Securities and Exchange Commission in which it revealed, “The purchase agreement provides for the acquisition by the purchaser of all of the issued and outstanding shares of Columbia (the “acquisition”) on the terms and subject to the conditions set forth in the purchase agreement. Based upon current market conditions, the company no longer expects to complete the acquisition on or before December 31, 2018.”
The purchase agreement provides that either party can terminate the deal if it does not close by April 9, 2019, subject to an additional “marketing period.” If the deal fails, Bristow would owe Columbia a $20 million termination fee.
The takeover is a tad stalled......’
cheers
https://www.ainonline.com/aviation-n...ia-deal-stalls
’
The purchase agreement provides that either party can terminate the deal if it does not close by April 9, 2019, subject to an additional “marketing period.” If the deal fails, Bristow would owe Columbia a $20 million termination fee.
The takeover is a tad stalled......’
cheers
https://www.ainonline.com/aviation-n...ia-deal-stalls
’
Joined: May 2002
Aviation Qualifications: ATP+Mil
Posts: 18,633
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From: Downeast
Does Bristow have Twenty Million Dollars to pay Columbia should the deal fail to happen?
You reckon Columbia might wind up buying Bristow in stead of the other way around?
You reckon Columbia might wind up buying Bristow in stead of the other way around?
Joined: Apr 2009
Posts: 12
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From: Australia
Bristow is -3.4% lower after activist investor Global Value Investment comes out against the proposed financing of the company's planned acquisition of Columbia Helicopters.
Under the proposed financing, Global Value estimates that 33M-33.5M BRS shares would be issued in order to consummate the acquisition, representing a 93% dilution.
Global Value believes BRS trades at a steep discount to the company's intrinsic value and that several strategic alternatives exist to unlock shareholder value.
Under the proposed financing, Global Value estimates that 33M-33.5M BRS shares would be issued in order to consummate the acquisition, representing a 93% dilution.
Global Value believes BRS trades at a steep discount to the company's intrinsic value and that several strategic alternatives exist to unlock shareholder value.