CHC LLC purchases Babcock
 

Heard from couple of reliable sources that Babock have purchased CHC in the UK. Nothing official out there though,

They really are going after the 'start with a large fortune' motto...

What happened to getting out of oil and gas?

Could well be positioning for UKSAR2G bid

Why would you buy a company that's only bidding but hasn't actually won anything yet? They'd be better off buying CHC Norway, but they didn't and bailed out completely from Norway. This rumour makes no sense whatsoever, especially not considering Babcock's multiple negative statements regarding offshore.

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.

Well it will be a stand alone AOC, and CHC Scotia LTD is a distinct UK Legal entity.

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.

Not the only one to do that...

Certainly Babcock is a device for relieving government of their money and UK SAR has been shown to be a reliable revenue source for Bristow through hard times in other quarters. However, both Babcock and CHC are already members of 'the usual suspects' having both done some SAR in the UK SRR. We also live in an age where 'parent company guarantee' is proven to be not worth the paper it's not written on, so sheer size doesn't cut it. I shall be interested to see what this turns into.

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.

Which sources and where? Pilots? Engineers? Or actual managers/shareholders involved in either Babcock or CHC, cause otherwise all these "sources" don't really hold any credit with all due respect. If all these "sources" were correct, CHC'd be merged with Bristow for 1,5 years now...

https://www.pprune.org/rotorheads/62...hc-merger.html

I thought CHC had already merged.

;)

SNI, it's not pilots or engineers. My sources are solid but there is a lot more complexity than a simple buy/ sell transaction.

Those are some serious sources then very close to the fire... Either that or the top managers and anyone below are very good at portraying a different picture in recent briefings and communications in both CHC and Babcock. There's zero rumours or whistles on the ground here in the UK with regards to a Babcock take over of CHC UK. You and Kiwi are the only ones in the know apparently...

Ned you are very well connected in the industry, would you care to elaborate.

Perhaps a reverse take over makes sense?

https://devencore.com/main-property-...740-Agar-Drive

4740 AGAR DRIVE

RICHMOND, BRITISH COLUMBIA V7B 1A3

FOR LEASE

ABOUT THE PROPERTY

Opportunity to lease 9,019 to 18,705 square feet of A-Class office space at Vancouver International Airport (YVR). This two storey building has exceptional improvements built-out with multiple offices, boardrooms, kitchen facilities, and open plan areas. 9,019 square feet on the main floor and 9,686 square feet on the second floor. Furniture is available. Mountain and river views. Located next to a bus station stop and 12 minutes from Bridgeport SkyTrain Station. Ample parking included.

That’s the East Building. Used to be Corporate before that all got moved to Dallas 7-8 years ago. They’ve been trying to lease it out ever since - nothing new.

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."

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!!