Falcon Energy sells chunk of CH OffshoreCompany News // April 11, 2017
Singapore-based CH Offshore has announced that SZ Offshore Investment Pte Ltd has entered into a sale and purchase agreement to acquire 153,846,150 ordinary shares of the company from a company owned by Falcon Energy. The sale amounts to a 21.8 per cent stake in CH Offshore.
Prior to the sale Falcon Energy owned 86.74 per cent of CH Offshore, through its holding company Energian. Its holding is now 64.9 per cent.
Falcon Energy said in a statement: "In the light of the current global trend of decreasing oil prices, and CH Offshore's dependency on the oil and gas industry for its revenue, the company considers the sale of CH Offshore to be a strategic decision for the benefit of the group."