London talks, last-minute $146m DBS loan failed to save Swiber: Bloomberg
Court documents detail Swiber’s sinking saga.
Bloomberg revealed in a report that a proposed investment that never happened, talks in London and Singapore, and a eleventh-hour overdraft facility from DBS Group Holdings Ltd. all failed to keep Swiber Holdings Ltd. afloat.
The saga, which began when executives of the offshore oil and gas firm pushed to seal a $200m deal with London-based private-equity firm AMTC Ltd., gave the outside world little hint about what was brewing, the documents show.
Read the full report here.