CHC LLC purchases Babcock
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CHC LLC purchases Babcock
Heard from couple of reliable sources that Babock have purchased CHC in the UK. Nothing official out there though,
Could well be positioning for UKSAR2G bid
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Originally Posted by [email protected]
Could well be positioning for UKSAR2G bid
Besides, as far as I know, CHC UK isn't a seperate business unit, but part of a larger European business unit. They'd have to break that up first before they could sell the UK. But who knows, maybe Brexit more or less done this for them already.. Anything goes afterall in this dog eat dog world of O&G. Time will tell if this crazy rumour is true but I find it rather unlikely.
Besides, as far as I know, CHC UK isn't a seperate business unit, but part of a larger European business unit
Why would CHC sell the only part of their operation which generates a significant amount of cash flow? Much of what CHCUK makes is syphoned off to pay for “Corporate”. CHCUK will never make a taxable profit, “Corporate” will make sure of that.
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Not the only one to do that...
Originally Posted by [email protected]
Could well be positioning for UKSAR2G bid
Roundwego - CHC UK would be sold because the investors have had enough of pouring money into the overall entity and want some of their money back. If they would rather sell off the money making bit and take that cash then shut down the rest of the loss making operations, isn't that better for them? No one will pay for a major loss making business. People will pay for a profitable one. I heard the story has legs from my sources.
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Roundwego - CHC UK would be sold because the investors have had enough of pouring money into the overall entity and want some of their money back. If they would rather sell off the money making bit and take that cash then shut down the rest of the loss making operations, isn't that better for them? No one will pay for a major loss making business. People will pay for a profitable one. I heard the story has legs from my sources.
Last edited by SNI; 23rd Feb 2021 at 16:06.
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I can see where you're coming from with that. Looking back across the last few years I can sort of imagine a conversation at Babcock "Whose idea was it get into aviation anyway? We're Babcock. We say 'jump' and the government asks 'How high?'. Now we have all those flying types telling us we can't do this and we can't do that."
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I can only speculate from the ‘client’ side of things but having asked both there appears to be nothing in this at all at this time.
The 3 main ‘legacy’ NS operators meet more often at high level that us plebs would be aware of and as they all talk constantly about consolidating its inevitable that rumour and speculation will abound.....no doubt that all 3 have probably sounded one another out. CHC and Bristow did, that’s common knowledge....
.... however an interesting snippet did reach my ear from a normally impeccable source that a large current NS contract up for renewal was potentially being awarded on a split basis between the two aforementioned in this thread and indeed inferred it could be viewed as a JV which would obviously lead to a bit of 2+2. I’ve heard nothing confirmed tho and for the avoidance of doubt, this is a rumour network!!
The 3 main ‘legacy’ NS operators meet more often at high level that us plebs would be aware of and as they all talk constantly about consolidating its inevitable that rumour and speculation will abound.....no doubt that all 3 have probably sounded one another out. CHC and Bristow did, that’s common knowledge....
.... however an interesting snippet did reach my ear from a normally impeccable source that a large current NS contract up for renewal was potentially being awarded on a split basis between the two aforementioned in this thread and indeed inferred it could be viewed as a JV which would obviously lead to a bit of 2+2. I’ve heard nothing confirmed tho and for the avoidance of doubt, this is a rumour network!!