Swiber in talks with potential investor for restructuring plan

Singapore

DEBT-LADEN offshore and marine group Swiber Holdings, currently under judicial management, is discussing with a third party regarding a possible restructuring deal that includes a US$200 million investment and a bond issuance.

The potential suitor is a Middle East-based oil and gas conglomerate. It is eyeing an at least 80 per cent stake in a new Swiber subsidiary (New Swiber) that will own some assets and contracts of the existing group, Swiber said in a bourse filing.