Sapura Energy-MHB merger on the cards?

Talks of a merger between Sapura Energy and MHB first surfaced in 2015 as both companies have large fabrication yards, but nothing had since materialised.

Included in the proposed restructuring plan for the Practice Note 17 company is the emergence of a potential white knight, among several other proposals. Another source said that talks of a merger between Sapura Energy and MHB go as far back as 2015, as both companies have large fabrication yards, but nothing had materialised.

Following this, the company filed a new proposal to restructure its RM10.3 billion debt owed to nine lenders grouped under financiers of its multi-currency facilities . The group owes another RM5.12 billion to its vendors. It is also considering the sale of some of its assets, including its remaining 50% stake in SapuraOMV for RM2.25 billion, which will be used to pay off some of its debts.

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