Yinson consortium considers raising privatisation offer to RM2.50 a share
The potential offer would value the company at about RM7.3 billion, but discussions may not lead to a higher bid.
Yinson Holdings Bhd’s founding Lim family and its consortium partners are weighing a privatisation offer of about RM2.50 per share, according to people with knowledge of the matter. The proposed price compares with RM2.35 previously considered and would put the company’s value at about RM7.3 billion.
The Employees Provident Fund (EPF) and MISC Bhd are also members of the consortium. The people, who requested anonymity because the information was private, cautioned that discussions could end without an increased offer. Shareholders and regulators would need to approve any deal.
In August, the group announced it was weighing an indicative price of RM2.35 per share to buy out Yinson in a transaction estimated at US$1.7 billion (RM6.88 billion). Yinson’s businesses include vessels for floating production, storage and offloading, renewable energy assets and electric vehicle assets.
Yinson shares have advanced about 5% since the August announcement. They traded at RM2.27, putting its market capitalisation at around US$1.6 billion.
Yinson’s website records the Lim family’s stake at 27.7% and EPF’s at 17.1% as of the end of July. Representatives of Yinson and the family declined to comment, while requests for comment drew no response from EPF or MISC.
