PETALING JAYA: Tanjung Offshore Bhd has aborted the proposed reverse takeover (RTO) exercise by Paris-based Bourbon SA that would have paved the way for the former’s return to the offshore services vessel (OSV) market.
In a filing with the stock exchange, Affin Hwang Investment Bank Bhd said Tanjung Offshore and the vendors – comprising Singaporean Farid Khan Kaim Khan and his business partners, Mower Tunggal Jaya PT, Megagold Indonesia PT and Zona Maju Mapan PT and Bourbon Far East Pte Ltd – via an exchange of letter, had mutually agreed to terminate the heads of agreements on the proposed asset injection on Dec 29 with immediate effect without any legal and financial recourse against each other.