Yinson: No buyout deal on the table
KUALA LUMPUR: Yinson Holdings Bhd has clarified that it is not in discussions with any third party in respect of a buyout exercise.
Executive chairman Lim Han Weng said the company is currently engaged in exploratory talks with various parties on potential corporate proposals related to its 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," it said in a filing to Bursa Malaysia today.
The company said it will make the relevant announcement, if and when a corporate exercise materialises, in accordance with the Main Market Listing Requirements.
"The company wishes to remind shareholders to exercise caution and seek appropriate advice when dealing in Yinson shares," it noted.
Bloomberg, quoting sources, had reported that New York-based Stonepeak Partners is in exclusive negotiations to acquire Yinson, in a potential deal that could value the Malaysian company at up to RM9 billion (US$2.1 billion).
If finalised, the transaction would rank among the largest deals in Malaysia this year.
Yinson closed 0.43 per cent or one sen lower to RM2.33, giving it a market capitalisation of RM7.18 billion.
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