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CHC LLC purchases Babcock

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CHC LLC purchases Babcock

Old 2nd Jun 2022, 12:00
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Originally Posted by Mitchaa
1 further point, I do wonder what happens with the DB pension liabilities and whether this was transferred from Bond - Babcock - CHC or whether there is a separate trust fund setup. When CHC bought it for £10m, did they also take on the historical DB fund liabilities from decades previous? Hmm.
Would there be any DB pension liabilities? When the "new Bond" was established on the mid-2000s, did they put in place any DB schemes?

The "old Bond" DB pension liabilities do sit with CHC, but purely as a result of the purchase of the Helikopter Services Group by CHC in 1999.
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Old 2nd Jun 2022, 13:04
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Originally Posted by rotor-rooter
It may be worth examining the beneficial owners of CHC Group for insight into this determination by CMA. Do you know who actually owns CHC?
The creditors from the Ch 11 and then the subsequent restructure/ recapitalization of CHC own CHC. Their debts were converted to equity in Ch 11 and those now equity holders who put their hands into their pockets to help with more cash were given more shares. Those who did not assist in the recapitalizations since have been diluted.

This CMA report (the full fat 229 pages) refers to Bain Capital Credit LP and Cross Ocean Partners Management LP in particular.

https://www.baincapitalcredit.com/
Cross Ocean Partners
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Old 15th Jul 2022, 15:59
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UK to accept CHC's undertakings in Babcock helicopter deal


Reuters

1 minute readLONDON, July 15 (Reuters) - Britain's competition regulator said on Friday it proposed to accept the final undertakings given by CHC Group in relation to its acquisition last year of Babcock's helicopter services unit.

($1 = 0.8448 pounds)
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Old 15th Jul 2022, 16:26
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Originally Posted by Cyclic Hotline

UK to accept CHC's undertakings in Babcock helicopter deal


Reuters

1 minute readLONDON, July 15 (Reuters) - Britain's competition regulator said on Friday it proposed to accept the final undertakings given by CHC Group in relation to its acquisition last year of Babcock's helicopter services unit.

($1 = 0.8448 pounds)

WTF does that mean?
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Old 15th Jul 2022, 17:10
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Details are on gov website, the acceptance is chc's proposal for sale, its just the formal acceptance

Docs are downloadable

https://www.gov.uk/cma-cases/chc-slash-babcock-merger-inquiry
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Old 15th Jul 2022, 17:13
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HC 100% 👍
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Old 19th Feb 2023, 07:53
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Ultimate Aviation Group to buy Babcock/Offshore Helicioter Services from CHC?

Any truth to the rumour that Ultimate Aviation (SA) Group is to buy to Babcock/Offshore Helicioter Services from CHC?

https://ultimate-aviation.net/
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Old 19th Feb 2023, 09:00
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More than just a rumour:

OHS Buyer announced
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Old 19th Feb 2023, 09:50
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Originally Posted by Bravo73
More than just a rumour:

OHS Buyer announced
Guess I should have looked a bit harder.
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Old 1st Aug 2023, 19:45
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OHS UK Job Cuts

https://www.energyvoice.com/oilandga...ices-job-cuts/
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Old 1st Aug 2023, 21:44
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subscription required to read the article
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Old 1st Aug 2023, 22:38
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Originally Posted by Medevac999
subscription required to read the article
And CHC looking for 175 copilots……
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Old 1st Aug 2023, 22:42
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Originally Posted by 212man
And CHC looking for 175 copilots……
Let's be honest, it's not the copilots that will be targeted is it.
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Old 2nd Aug 2023, 09:23
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Originally Posted by 212man
And CHC looking for 175 copilots……
How many??!?





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Old 2nd Aug 2023, 11:12
  #295 (permalink)  
 
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What job cuts are they making?
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Old 2nd Aug 2023, 19:30
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Originally Posted by PPI Zulu
Let's be honest, it's not the copilots that will be targeted is it.
Who knows. LIFO could easily put them targets.
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Old 2nd Aug 2023, 19:52
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Originally Posted by 212man
Who knows. LIFO could easily put them targets.
LIFO?
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Old 2nd Aug 2023, 19:57
  #298 (permalink)  
 
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Last In First Out
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Old 2nd Aug 2023, 20:32
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Originally Posted by PPI Zulu
LIFO?
“Last in - first out”
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Old 3rd Aug 2023, 11:17
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Doesn’t surprise me to be fair. Had the CMA not intererfered, OHS wouldn’t exist. One would think the declining market isn’t there to keep 4 operators afloat and that OHS are in the most vulnerable position.

How long will they last? Running an AOC and all the positions that need to be legally in place is very expensive. Babcock really did have a race to the bottom mentality and I believe CHC for example recently cut ties with the Danish work they had gained from Babcock due to profitability.

Perhaps this was the plan? Give the CMA what they want but leave a “viable business” on paper unviable? Or perhaps they just have too many staff? I seem to recall when the CHC / Babcock merger was on the cards, CHC were lean and Babcock were heavy with staff positions. Perhaps they are now just cutting the fat and needing to run it as lean as possible so that the company survive?

CHC seem to be a lot busier recently.
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