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Kuok moves ahead with POSH acquisition

PACC Offshore Services Holdings (POSH) has filed to leave the Singapore Exchange as the Kuok Group moves forward with its takeover.

Quetzal Capital, a bid vehicle formed by various companies within the Kuok Group, made a voluntary, conditional cash offer for all of the issued and outstanding ordinary shares of POSH during November 2019.

At the time, Quetzal said that, in light of the continuing challenges facing the offshore oil and gas sector, it believed that the privatisation of POSH would provide it with more flexibility to manager the operational and financial requirements.

Heavy Lift | News

ALP wins FLNG towage contract thumbnail image

ALP wins FLNG towage contract

February 25 - The Netherlands-headquartered ALP Maritime Services has secured towing and positioning contracts for the Coral South floating LNG (FLNG) platform, which will enter service offshore Mozambique.
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POSH lands PFLNG Dua charters thumbnail image

POSH lands PFLNG Dua charters

February 25 - Petronas has awarded PACC Offshore Services Holdings (POSH) two contracts related to the Petronas Floating Liquefied Natural Gas 2 (PFLNG Dua) project in Malaysia.
Views: 297

Heavy Lift Across The World

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