Yinson clarifies no buyout amid exploratory talks
KUALA LUMPUR: Yinson Holdings Bhd has clarified that it is not in discussions with any third parties regarding a buyout exercise.
However, the group said its executive chairman, Lim Han Weng, is currently engaged in 'exploratory discussions' with various parties concerning potential corporate proposals related to their shareholding.
'However, given that the discussions are still at an exploratory stage, there is currently no conclusive indication that the discussions would give rise to a corporate proposal involving Yinson,' the oil and gas services firm said in a filing with Bursa Malaysia.
The company will make the relevant announcement if and when a corporate exercise materialises, in accordance with the Main Market Listing Requirements.
Bloomberg reported that New York-based Stonepeak Partners is reportedly in exclusive talks to acquire Yinson, with the potential deal valuing the company at up to RM9bil (US$2.1bil), according to sources familiar with the matter.
This could be one of the largest deals in Malaysia this year.
Yinson closed down one sen, or 0.43%, at RM2.33 with 19.08 million shares traded.
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