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CHC LLC purchases Babcock

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CHC LLC purchases Babcock

Old 11th Mar 2021, 07:04
  #61 (permalink)  
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Just had some updated intel and seems its more along the lines of CHC buying Babcock - not the other way around - My Bad.

Maybe the Telephone call in that is happening tonight with the Babcock crews might shed some more light on it.
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Old 11th Mar 2021, 08:03
  #62 (permalink)  
 
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otherway around shipmate.
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Old 11th Mar 2021, 08:06
  #63 (permalink)  
 
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seems its more along the lines of CHC buying Babcock
Wow, its going to need a huge debt to finance that kind of deal.

All will be revealed very soon it seems.
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Old 11th Mar 2021, 08:48
  #64 (permalink)  
 
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Originally Posted by industry insider View Post
Wow, its going to need a huge debt to finance that kind of deal.

All will be revealed very soon it seems.
What exactly has the value? Profitable contracts? Owned aircraft? Assets? I guess they would be buying the debt and getting rid of a competitor...

They would however get back the Total work they just lost...
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Old 11th Mar 2021, 08:49
  #65 (permalink)  
 
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Originally Posted by KiwiNedNZ View Post
Its not like I really give a shite what you think
Yes Ned. I apologise. I was half a bottle in and a mite trigger happy with the submit button. What I should have said was that...'...it's total bllcks like the conjecture postulated in the original post.'

You have to understand that those in the NNS helicopter industry are very bruised by six or seven years of austerity caused by OPEC's attempt to put the fracking industry out of business and prevent the USA from becoming petrochemical self-sufficient. They have all faced multiple rounds of redundancy. They have all faced slashing of their Ts&Cs. They have all faced the stark realisation that the kids' education, the mortgage, the car, the comfortable pension after retirement and everything else might disappear up in smoke because, despite the rise in wholesale oil prices and the price at the pumps going up, the oil companies are not telegraphing the margins on to any of their suppliers. Some have been made redundant and have never recovered. The oil companies continue to favour the markets and the shareholders and the dividends over investment. Topics like this that postulate yet another train wreck of jobs in Aberdeen with nothing more than a 'I heard it in the pub' basis are like drinking another cup of cold sick.
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Old 11th Mar 2021, 09:01
  #66 (permalink)  
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FYI I wasnt in any Pub in the Uk and didnt hear it from a fly on the wall. Like I said in my original post it is a RUMOUR that I was told by FOUR different people in various differing segments of the industry. I never said it was a FACT and that people were going to lose their jobs - I made a post - like many many others have done before and will continue to do so, of something that I was told. Is it 100% correct - who knows - time will tell. I have friends flying in the North Sea and I dont wish ill will on any of them including the ones I dont know. Anyway I posted what I was told - with the ok of those with whom I spoke. Lets see what plays out.
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Old 11th Mar 2021, 09:12
  #67 (permalink)  
 
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Smile CHC is buying Babcock Offshore

UK Offshore, Denmark and Australia.......all going to CHC. Announced this morning.
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Old 11th Mar 2021, 09:15
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From Babcock

Babcock International Group PLC (Babcock or the Group)



Conditional sale of Oil and Gas aviation business

Babcock, the aerospace and defence company, has entered into a conditional agreement for the sale of its Oil and Gas aviation business to CHC Group, LLC (CHC).

The Oil and Gas business, which is part of the Group’s Aviation sector, provides offshore oil and gas crew transportation services in the UK, Denmark and Australia. It is headquartered in Aberdeen, UK, and employs over 500 people and operates around 30 aircraft across its three locations.

The deal is expected to complete in the second calendar quarter of 2021, subject to the satisfaction of the relevant third party conditions. It is intended that CHC will seek clearance for the transaction from antitrust authorities in the UK and Australia, but completion is not conditional upon such clearances being received.

Further information will be provided upon completion of the deal.
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Old 11th Mar 2021, 09:23
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WoW! How about Babcock’s assets in Italy and Spain?
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Old 11th Mar 2021, 09:26
  #70 (permalink)  
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Indeed might wanna check your sources, Ned.

It's official, CHC is buying Babcock offshore including UK, Denmark and Australia.

https://www.babcockinternational.com...tion-business/

Last edited by SNI; 12th Mar 2021 at 09:17.
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Old 11th Mar 2021, 09:30
  #71 (permalink)  
 
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Originally Posted by KiwiNedNZ View Post
FYI I wasnt in any Pub in the Uk and didnt hear it from a fly on the wall. Like I said in my original post it is a RUMOUR that I was told by FOUR different people in various differing segments of the industry. I never said it was a FACT and that people were going to lose their jobs - I made a post - like many many others have done before and will continue to do so, of something that I was told. Is it 100% correct - who knows - time will tell. I have friends flying in the North Sea and I dont wish ill will on any of them including the ones I dont know. Anyway I posted what I was told - with the ok of those with whom I spoke. Lets see what plays out.
Well Ned. All hands up: you called it. It's true (subject to due dilligence of course).

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Old 11th Mar 2021, 09:36
  #72 (permalink)  
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PPI Zulu - I dont care if I was right or wrong, just hope that CHC do the right thing by everyone. I have heard they are leaving everything in place as is so hope they stick to that. Lot of good people out there in both companies.
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Old 11th Mar 2021, 09:37
  #73 (permalink)  
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Medevac999 - I think their assets in Spain and Italy are more HEMS and SAR operations not O&G - but might be wrong
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Old 11th Mar 2021, 09:44
  #74 (permalink)  
 
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Originally Posted by KiwiNedNZ View Post
Medevac999 - I think their assets in Spain and Italy are more HEMS and SAR operations not O&G - but might be wrong
Yep. Ned is right. Babcock want SAR, HEMS, Police, Air Ambulance and Fire Fighting. That's why they bought Avincis in the first place. That bit is defo not for sale.
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Old 11th Mar 2021, 09:45
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Originally Posted by KiwiNedNZ View Post
Medevac999 - I think their assets in Spain and Italy are more HEMS and SAR operations not O&G - but might be wrong
Thanks Ned. I thought they had some contracts in Africa
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Old 11th Mar 2021, 09:46
  #76 (permalink)  
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And if you go back even further right at the beginning it was Helicsa in Spain that had the ems, SAR and fire fighting before they kept getting gobbled up by even bigger companies.
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Old 11th Mar 2021, 09:48
  #77 (permalink)  
 
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Originally Posted by KiwiNedNZ View Post
PPI Zulu - I dont care if I was right or wrong, just hope that CHC do the right thing by everyone. I have heard they are leaving everything in place as is so hope they stick to that. Lot of good people out there in both companies.
Unfortunately there will always be some casualties. Senior management, finance, HR will be in the firing line immediately. Unless, as you say, they intend to run BMCS as a separate entity. Can't see that myself though.
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Old 11th Mar 2021, 09:48
  #78 (permalink)  
 
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You're not a fluffy white dessert. Only O&G.......as was promised last year.
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Old 11th Mar 2021, 09:51
  #79 (permalink)  
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Can't see that myself though.
- considering not many people saw this coming then maybe they might actually leave most of it alone.
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Old 11th Mar 2021, 09:59
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Wow. Never saw that one coming. Good luck to all.
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