LNG shipping giant MISC and Bumi Armada are reportedly on the verge creating a giant through an FPSO vessel business merger.
According to media reports, MISC could sell its FPSO business to Bumi Armada in exchange for the Bumi Armada shares.
The LNG shipping company neither confirmed or neglected the reports as it filed a statement to the stock exchange on Monday, saying, “the company continuously explores and assesses opportunities and growth prospects.”
Malaysian, The Edge, which initially reported on the possible merger, cited Public Investment Bank’s Mabel Tan as saying that the deal would benefit both companies as it could open the door to more deals for Bumi Armada with Malaysia’s Petronas, which owns 62.67 percent in MISC.
LNG World News Staff; Image: Bumi Armada