Stonepeak is said in exclusive talks for buyout of US$2.1bil Yinson
Stonepeak Partners is in exclusive talks for a buyout of Yinson Holdings Bhd that may value the firm at as much as RM9bil (US$2.1bil), according to people with knowledge of the matter, in what could be one of the biggest deals in Malaysia this year.
New York-based Stonepeak is teaming up with the Lim family, Yinson's founder and biggest shareholder, to take the Kuala-Lumpur-listed energy infrastructure company private, said the people, asking not to be identified because the discussions aren't public. The Lim family owned 26.6% of Yinson as of May 30.
Considerations are ongoing and there is no certainty a deal will be reached, the people said.
Yinson's shares jumped as much as 14% following the Bloomberg News report on the talks, the biggest intraday gain since June 2019. That cut the year-to-date loss from 20% as of Thursday's close and lifted Yinson's market value to about 6.5 billion ringgit.
Representatives for the Lim family and Yinson declined to comment. Stonepeak didn't immediately respond to requests for comment.
Founded in the 1980s as a transport and logistics firm, Yinson has since diversified into energy infrastructure, renewables and technology, its website shows. The company signed an agreement with a consortium of investors in January for a $1 billion funding round for a unit that makes vessels used by the offshore oil and gas industry, Bloomberg News reported at the time. - Bloomberg
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