Bumi Armada Is Said to Weigh Buying MISC Offshore Energy Assets

Bumi Armada Bhd., an oil field services provider controlled by Malaysian tycoon T. Ananda Krishnan, is considering buying MISC Bhd.’s offshore energy business, according to people with knowledge of the matter.

Talks between the companies are at an advanced stage and a non-binding agreement may be signed as soon as this week, said the people, asking not to be identified because the process is private. While details such as valuation are still being discussed, a potential transaction will likely involve a share swap that will give MISC a significant minority stake in Bumi Armada, the people said. ...