Yinson In Talks On Potential Privatisation At RM2.35 A Share

KUALA LUMPUR, Aug 28 (Bernama) -- Yinson Holdings Bhd’s major shareholder, Yinson Legacy Sdn Bhd (YLSB), has engaged in preliminary discussions with MISC Bhd, the Employees Provident Fund (EPF), its affiliates and other stakeholders, regarding a potential proposal to privatise the company.

In a filing with Bursa Malaysia today, the global energy infrastructure company said it has received a letter from YLSB for a potential privatisation at an indicative offer price of RM2.35 per share.

“If implemented, the proposed privatisation is expected to involve the acquisition of all remaining ordinary shares in Yinson not already held by YLSB, and certain parties acting in concert with it, and EPF retaining its existing effective shareholding in the company,” it said.

Yinson said discussions between the parties remain ongoing and further assessments are being undertaken as the final offer price remains subject to change based on, among others, due diligence and commercial viability of the proposed privatisation.

It said the proposed privatisation remains subject to, amongst others, evaluations and negotiations among the parties, execution of definitive agreements, determination of the final offer price, and such other requisite approvals and conditions as may be determined.

“Accordingly, there can be no assurance that the discussions will lead to or result in the implementation of the proposed privatisation. This notice does not constitute a firm intention to privatise Yinson, and there is no certainty that any offer or transaction will ultimately be made.

“Shareholders and investors are advised to exercise caution when dealing in the securities of Yinson. YLSB will make the necessary notification on any material developments in relation to the foregoing in accordance with the applicable laws and regulations,” it added.

At today’s close, the company’s shares dropped seven sen to RM2.15, with 11.37 million shares traded.

-- BERNAMA