January 19, 2018 / 11:38 AM / 6 months ago

BRIEF-Seacor Marine Announces Confirmation Of "Stalking Horse" Bid To Form JV With Montco Offshore

Jan 19 (Reuters) - Seacor Marine Holdings Inc:

* SEACOR MARINE ANNOUNCES CONFIRMATION OF “STALKING HORSE” BID TO FORM JOINT VENTURE WITH MONTCO OFFSHORE, INC.

* ‍JOINT VENTURE WOULD ASSUME ABOUT $131 MILLION OF INDEBTEDNESS FROM MOI’S PRE-PETITION FACILITIES

* SEACOR MARINE - ‍UPON COMPLETION OF TRANSACTIONS, IT IS EXPECTED THAT SEACOR MARINE WILL HOLD AT LEAST 70% OF ALL EQUITY INTERESTS IN JOINT VENTURE

* SEACOR MARINE HOLDINGS - ‍UPON COMPLETION OF TRANSACTION, CO WILL BE ENTITLED TO APPOINT A MAJORITY OF BOARD OF MANAGERS OF JOINT VENTURE​

* SEACOR MARINE HOLDINGS- ‍PLAN OF REORGANIZATION FOR MONTCO OFFSHORE, INC CONFIRMED BY US BANKRUPTCY COURT FOR SOUTHERN DISTRICT OF TEXAS, HOUSTON DIVISION​ Source text for Eikon: Further company coverage:

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